Redknee Solutions Receives “Sector Perform” Rating from RBC Capital (RKN)
Redknee Solutions (TSE:RKN)‘s stock had its “sector perform” rating restated by equities researchers at RBC Capital in a research report issued on Friday. They currently have a C$5.50 target price on the stock, down from their previous target price of C$6.00. RBC Capital’s price target points to a potential upside of 37.50% from the company’s current price.
Shares of Redknee Solutions (TSE:RKN) traded down 5.37% during mid-day trading on Friday, hitting $3.785. 301,232 shares of the company’s stock traded hands. Redknee Solutions has a one year low of $3.40 and a one year high of $7.82. The stock’s 50-day moving average is $5.18 and its 200-day moving average is $5.39. The company has a market cap of $412.2 million and a price-to-earnings ratio of 400.00.
Redknee Solutions (TSE:RKN) last released its earnings data on Friday, August 8th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.10. Analysts expect that Redknee Solutions will post $0.06 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Redknee Solutions in a research note on Friday. They now have a C$6.00 price target on the stock, down previously from C$7.25. Separately, analysts at CIBC cut their price target on shares of Redknee Solutions from C$6.00 to C$5.50 in a research note on Thursday. They now have a “sector perform” rating on the stock. Finally, analysts at CIBC initiated coverage on shares of Redknee Solutions in a research note on Friday, July 18th. They set a “sector perform” rating and a C$6.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Redknee Solutions currently has an average rating of “Buy” and an average price target of C$5.83.
Redknee Solutions Inc is a global provider of real-time monetization software products, solutions and services.
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