Shore Capital Reaffirms "Buy" Rating for Softcat (LON:SCT)

Key Points

• Shore Capital has reaffirmed a "Buy" rating for Softcat (LON:SCT), with a price target of GBX 1,950, indicating a potential upside of 20.37% from current trading levels.
• Softcat's stock has been rated with a consensus of "Moderate Buy", with three analysts issuing Buy ratings and a median price target of GBX 1,813.80.
• The company operates as a value-added IT reseller, focusing on technology solutions in the UK, including services in software licensing, networking, and cloud infrastructure.

Softcat (LON:SCT - Get Free Report)'s stock had its "buy" rating reissued by Shore Capital in a research report issued to clients and investors on Thursday,London Stock Exchange reports. They presently have a GBX 1,950 price target on the stock. Shore Capital's price target suggests a potential upside of 20.37% from the company's current price.

Several other equities research analysts have also issued reports on the company. Liberum Capital raised Softcat to a "buy" rating and set a GBX 1,800 price target for the company in a research note on Thursday, July 24th. Citigroup dropped their price target on Softcat from GBX 2,000 to GBX 1,960 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Softcat in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Softcat currently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,813.80.

Softcat Trading Up 3.5%

Shares of SCT stock opened at GBX 1,620 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48. The business has a 50-day moving average price of GBX 1,639.74 and a two-hundred day moving average price of GBX 1,653.89. Softcat has a 12-month low of GBX 1,427 and a 12-month high of GBX 1,960. The firm has a market cap of £3.22 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71.

About Softcat

Softcat plc operates as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, procures, designs, implements, and manages technology, such as software licensing, workplace technology, networking, security, and cloud and datacenter for businesses and public sector organizations.

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