Maxim Group Keeps a Hold Rating on Virtusa Corp

By Ryan Adsit

Maxim Group analyst Brian Kinstlinger reiterated a Hold rating on Virtusa Corp (NASDAQ: VRTU) today. The company’s shares opened today at $30.55.

Kinstlinger wrote:

“VRTU posted 4Q:F17 adjusted EPS of $0.42, which was below our $0.44 estimate on higher visa-related costs and local hiring.”

According to TipRanks.com, Kinstlinger is a 1-star analyst with an average return of -0.3% and a 50.6% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Applied DNA Sciences, Tyler Technologies, and Evolving Systems.

Virtusa Corp has an analyst consensus of Strong Buy, with a price target consensus of $35.67.

Based on Virtusa Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $216 million and quarterly net profit of $4.44 million. In comparison, last year the company earned revenue of $172 million and had a net profit of $12.29 million.

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Virtusa Corp. provides IT consulting, technology and outsourcing services. The company provides end-to-end information technology services to Forbes Global 2000 companies. It services include IT and business consulting, digital enablement services, user experience design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services. Virtusa was founded by Krishan A. Canekeratne, Tushara Canekeratne and John Gillis in November 1996 and is headquartered in Westborough, MA.