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Virtusa Corp (NASDAQ:VRTU) was upgraded by stock analysts at Noble Financial from a “hold” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $39.00 price objective on the stock. Noble Financial’s price target would suggest a potential upside of 17.01% from the company’s current price. The analysts noted that the move was a valuation call.

Virtusa Corp (NASDAQ:VRTU) traded up 5.21% on Wednesday, hitting $33.31. 329,658 shares of the company’s stock traded hands. Virtusa Corp has a one year low of $25.01 and a one year high of $38.49. The stock’s 50-day moving average is $34.00 and its 200-day moving average is $34.44. The company has a market cap of $973.7 million and a price-to-earnings ratio of 24.93.

Virtusa Corp (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.31 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.31. The company had revenue of $112.27 million for the quarter, compared to the consensus estimate of $112.07 million. During the same quarter last year, the company posted $0.29 earnings per share. Virtusa Corp’s revenue was up 24.1% compared to the same quarter last year. Analysts expect that Virtusa Corp will post $1.52 EPS for the current fiscal year.

Virtusa Corporation is an information technology services company. The Company uses an offshore delivery model to provide a broad range of information technology (NASDAQ:VRTU), services, including IT consulting, technology implementation and application outsourcing.

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