Softcat (LON:SCT) Price Target Cut to GBX 1,960 by Analysts at Citigroup

Key Points

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Softcat (LON:SCT - Get Free Report) had its price objective cut by investment analysts at Citigroup from GBX 2,000 ($27.02) to GBX 1,960 ($26.48) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 26.37% from the company's previous close.

A number of other research firms have also recently issued reports on SCT. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Softcat in a research note on Friday, July 18th. Liberum Capital upgraded shares of Softcat to a "buy" rating and set a GBX 1,800 ($24.31) price target for the company in a research report on Thursday, July 24th. Finally, Shore Capital reiterated a "buy" rating and issued a GBX 1,950 ($26.34) price objective on shares of Softcat in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,813.80 ($24.50).

Softcat Price Performance

LON:SCT opened at GBX 1,551 ($20.95) on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48. Softcat has a 52 week low of GBX 1,427 ($19.28) and a 52 week high of GBX 1,960 ($26.48). The stock's 50-day moving average price is GBX 1,679.36 and its 200-day moving average price is GBX 1,656.15. The stock has a market capitalization of £3.09 billion, a PE ratio of 25.97, 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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