Craneware (LON:CRW) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Craneware's stock price has recently exceeded its 200-day moving average during trading, reaching GBX 2,240 ($29.59), indicating potential upward momentum.
• Analysts, including those from Shore Capital and Berenberg Bank, have issued buy ratings on Craneware, with target prices set at GBX 2,650 ($35.01) and GBX 2,800 ($36.99), respectively.
• The company's financial metrics include a market cap of £968.04 million and a price-to-earnings ratio of 83.24, suggesting a high valuation compared to its earnings.

Craneware plc (LON:CRW - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,957.52 ($26.02) and traded as high as GBX 2,240 ($29.77). Craneware shares last traded at GBX 2,240 ($29.77), with a volume of 78,152 shares traded.

Wall Street Analysts Forecast Growth

CRW has been the subject of a number of recent research reports. Shore Capital reiterated a "buy" rating and set a GBX 2,650 ($35.22) price objective on shares of Craneware in a research report on Wednesday, July 16th. Berenberg Bank assumed coverage on Craneware in a report on Wednesday, July 16th. They issued a "buy" rating and a GBX 2,800 ($37.21) price objective on the stock.

Craneware Stock Up 0.8%

The company has a market capitalization of £1.03 billion, a PE ratio of 88.30 and a beta of 0.28. The firm has a fifty day simple moving average of GBX 2,184.04 and a 200-day simple moving average of GBX 1,960.11. The company has a debt-to-equity ratio of 12.22, a quick ratio of 1.00 and a current ratio of 0.63.

About Craneware

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.