Craneware (LON:CRW) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Craneware plc shares have surpassed their 200-day moving average, indicating a notable increase in stock price, trading as high as GBX 2,400 ($32.56).
• Analysts have initiated coverage with buy ratings and set price targets, with Berenberg Bank and Shore Capital targeting GBX 2,800 and GBX 2,650 respectively.
• The company maintains a debt-to-equity ratio of 12.22 and a market capitalization of £803.81 million, suggesting a focus on financial sustainability in healthcare solutions.

Craneware plc (LON:CRW - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 2,016 ($27.32) and traded as high as GBX 2,400 ($32.53). Craneware shares last traded at GBX 2,270 ($30.77), with a volume of 67,055 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Berenberg Bank increased their price target on Craneware from GBX 2,800 to GBX 2,900 and gave the company a "buy" rating in a report on Monday. Peel Hunt reiterated a "buy" rating and issued a GBX 2,871 target price on shares of Craneware in a research note on Monday. Finally, Shore Capital reiterated a "buy" rating and issued a GBX 2,850 target price on shares of Craneware in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 2,873.67.

Craneware Stock Performance

The business has a 50-day moving average of GBX 2,292.54 and a two-hundred day moving average of GBX 2,032.46. The company has a market cap of £849.84 million, a P/E ratio of 5,647.06 and a beta of 0.28. The company has a debt-to-equity ratio of 12.22, a current ratio of 0.63 and a quick ratio of 1.00.

Craneware Company Profile

The Craneware Group, the market leader in automated value cycle solutions, including 340B management, collaborates with U.S. healthcare providers to plan, execute, and monitor operational and financial performance so they can continue to deliver quality care to their communities. Customers choose The Craneware Group's Trisus data and applications platform as their key to navigating the journey to financially sustainable value-based care.