Sandvine Co. (SVC) Raised to Buy at Desjardins
Sandvine Co. (TSE:SVC) was upgraded by research analysts at Desjardins from a “tender” rating to a “buy” rating in a report released on Wednesday, StockTargetPrices.com reports. The firm currently has a C$4.25 target price on the stock, up from their prior target price of C$3.80. Desjardins’ price objective points to a potential upside of 8.70% from the stock’s previous close.
A number of other research analysts have also recently commented on SVC. TD Securities raised shares of Sandvine from a “hold” rating to a “buy” rating and upped their target price for the company from C$3.00 to C$4.50 in a research report on Monday, May 29th. National Bank Financial raised shares of Sandvine from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$3.25 to C$4.50 in a research report on Monday, May 29th. CIBC upped their target price on shares of Sandvine from C$3.00 to C$3.80 in a research report on Monday, May 29th. Royal Bank Of Canada upped their target price on shares of Sandvine from C$3.80 to C$4.10 and gave the company an “outperform” rating in a research report on Friday, April 7th. Finally, Scotiabank upped their target price on shares of Sandvine from C$3.00 to C$3.50 and gave the company an “outperform” rating in a research report on Friday, April 7th. Five investment analysts have rated the stock with a buy rating, Sandvine has a consensus rating of “Buy” and an average price target of C$3.94.
Sandvine (SVC) traded up 9.46% during midday trading on Wednesday, hitting $4.28. 3,941,144 shares of the stock traded hands. Sandvine has a 52-week low of $2.45 and a 52-week high of $4.30. The stock has a 50-day moving average of $3.51 and a 200 day moving average of $3.05. The firm has a market cap of $538.63 million and a PE ratio of 50.95.
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In other Sandvine news, insider Tom Donnelly sold 25,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of C$3.08, for a total value of C$77,000.00.
Sandvine Company Profile
Sandvine Corporation is engaged in research, design, manufacturing and sale of network policy control solutions for communications service providers. The Company offers various solutions, including business intelligence, traffic optimization, cyber security, subscriber engagement, subscriber services and business services.
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