Softcat (LON:SCT) Given Buy Rating at Shore Capital

Key Points

• Shore Capital has reaffirmed a buy rating for Softcat (LON:SCT) with a price target of GBX 1,950, suggesting a potential upside of 23.11% from its current price.
• Softcat's stock opened at GBX 1,584 and has an average rating of "Moderate Buy" among analysts, reflecting interest in the stock from multiple parties.
• The company operates as a value-added IT reseller and infrastructure solutions provider in the UK, focusing on technology services for businesses and public sector organizations.

Softcat (LON:SCT - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Shore Capital in a research note issued to investors on Monday,Digital Look reports. They currently have a GBX 1,950 price target on the stock. Shore Capital's target price suggests a potential upside of 23.11% from the company's current price.

SCT has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Softcat in a report on Thursday, September 11th. Citigroup dropped their target price on shares of Softcat from GBX 2,000 to GBX 1,960 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Finally, Liberum Capital upgraded shares of Softcat to a "buy" rating and set a GBX 1,800 target price for the company in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Softcat has an average rating of "Moderate Buy" and an average price target of GBX 1,813.80.

Softcat Stock Up 0.8%

SCT stock opened at GBX 1,584 on Monday. The firm has a market capitalization of £3.16 billion, a P/E ratio of 2,534.40, a P/E/G ratio of 11.51 and a beta of 0.71. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.60 and a quick ratio of 1.38. The company's 50 day simple moving average is GBX 1,580.58 and its 200-day simple moving average is GBX 1,653.92. Softcat has a 52-week low of GBX 1,427 and a 52-week high of GBX 1,960.

Softcat Company Profile

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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