Softcat (LON:SCT) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Softcat plc shares fell below their fifty-day moving average of GBX 1,616.46, trading as low as GBX 1,542 during recent market activity.
• An average rating of "Moderate Buy" with a target price of GBX 1,813.80 comes from consensus among analysts, with various firms issuing buy ratings for the stock.
• Softcat has a market capitalization of £3.17 billion, alongside a high price-to-earnings ratio of 2,540.58, indicating potentially tightened margins or high expectations for future growth.

Softcat plc (LON:SCT - Get Free Report) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 1,616.46 ($21.72) and traded as low as GBX 1,542 ($20.72). Softcat shares last traded at GBX 1,591 ($21.38), with a volume of 232,356 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Liberum Capital raised shares of Softcat to a "buy" rating and set a GBX 1,800 price objective for the company in a research report on Thursday, July 24th. Shore Capital reaffirmed a "buy" rating and issued a GBX 1,950 price target on shares of Softcat in a report on Thursday, August 28th. Citigroup cut their price objective on Softcat from GBX 2,000 to GBX 1,960 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Softcat in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,813.80.

Softcat Trading Down 0.2%

The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.38 and a current ratio of 1.60. The company's fifty day moving average is GBX 1,616.46 and its two-hundred day moving average is GBX 1,652.37. The company has a market cap of £3.17 billion, a price-to-earnings ratio of 2,540.58, a P/E/G 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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