Converge Technology Solutions (TSE:CTS) Shares Up 10.2% on Analyst Upgrade

Posted by James Quigley on Apr 4th, 2025

Converge Technology Solutions Corp. (TSE:CTS – Get Free Report)’s share price rose 10.2% during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$5.50 to C$6.00. The company traded as high as C$6.05 and last traded at C$6.03. Approximately 4,105,941 shares were traded during trading, an increase of 185% from the average daily volume of 1,440,255 shares. The stock had previously closed at C$5.47.

CTS has been the subject of a number of other reports. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Desjardins downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and increased their target price for the company from C$5.00 to C$5.50 in a research note on Friday, March 7th. CIBC lifted their price target on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Thursday. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a “hold” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a strong buy rating to the company. According to MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of C$16.63.

Check Out Our Latest Stock Report on CTS

Converge Technology Solutions Trading Down 0.3 %

The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78. The stock’s 50 day moving average is C$5.08 and its two-hundred day moving average is C$4.18. The company has a market capitalization of C$1.14 billion, a PE ratio of -7.23, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Company Profile

(Get Free Report)

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.