Needham Sticks to Its Buy Rating for Virtusa (VRTU)

By Jason Carr

In a report released today, Mayank Tandon from Needham maintained a Buy rating on Virtusa (VRTUResearch Report), with a price target of $35.00. The company’s shares closed last Monday at $31.04.

According to, Tandon is a 5-star analyst with an average return of 8.4% and a 51.9% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Sapiens International.

Virtusa has an analyst consensus of Strong Buy, with a price target consensus of $49.75, a 72.2% upside from current levels. In a report issued on March 17, Barrington also maintained a Buy rating on the stock with a $60.00 price target.

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Virtusa’s market cap is currently $926.9M and has a P/E ratio of 29.70. The company has a Price to Book ratio of 30.78.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRTU in relation to earlier this year.

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Virtusa Corp. engages in the provision of information technology consulting, technology implementation, and application outsourcing services. Its services includes business process management, application services, infrastructure management, enterprise information management, independent validation services, platforming, mobility, enterprise resource planning, business consulting, customer experience management, and cloud. The company was founded by Krishan A. Canekeratne, Tushara Canekeratne and John Gillis in November 1996 and is headquartered in Westborough, MA.