Converge Technology Solutions (TSE:CTS) Trading Up 10.2% – Still a Buy?

Posted by Tyrone Williams on Apr 2nd, 2025

Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) rose 10.2% during trading on Wednesday . The company traded as high as C$6.05 and last traded at C$6.03. Approximately 4,105,941 shares traded hands during mid-day trading, an increase of 185% from the average daily volume of 1,440,255 shares. The stock had previously closed at C$5.47.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CTS shares. CIBC raised their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Scotiabank upped their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. Desjardins lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and lifted their price target for the stock from C$5.00 to C$5.50 in a research note on Friday, March 7th. Finally, Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$28.83.

Read Our Latest Analysis on Converge Technology Solutions

Converge Technology Solutions Trading Up 10.6 %

The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. The business has a 50 day moving average of C$4.98 and a 200-day moving average of C$4.16. The firm has a market capitalization of C$1.14 billion, a P/E ratio of -7.26, a PEG 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.