Wolfe Research Begins Coverage on Versigent (NYSE:VGNT)

Key Points

• Wolfe Research initiated coverage of Versigent (VGNT) with an "outperform" rating and a $53.00 price target, implying roughly a 54.6% upside from the prior close.
• Across analysts Versigent has an average rating of "Moderate Buy" with an average price target of $42.13, based on one Strong Buy, six Buy and three Hold recommendations.
• VGNT traded at $34.28 (down 0.2%) on light volume (232,932 shares vs. a ~3.8M average) and sits within a one-year range of $26.34 to $36.87.

Equities researchers at Wolfe Research assumed coverage on shares of Versigent (NYSE:VGNT - Get Free Report) in a report released on Thursday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $53.00 price target on the stock. Wolfe Research's price objective would indicate a potential upside of 54.61% from the stock's previous close.

Several other brokerages also recently weighed in on VGNT. Wall Street Zen upgraded shares of Versigent to a "hold" rating in a research note on Saturday, April 18th. TD Cowen initiated coverage on shares of Versigent in a research note on Tuesday, April 14th. They issued a "buy" rating and a $47.00 target price for the company. BNP Paribas Exane initiated coverage on shares of Versigent in a research note on Tuesday. They issued an "outperform" rating and a $41.00 target price for the company. Zacks Research upgraded shares of Versigent to a "hold" rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company initiated coverage on shares of Versigent in a research note on Monday, April 6th. They issued an "overweight" rating and a $35.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Versigent presently has an average rating of "Moderate Buy" and an average price target of $42.13.

Versigent Trading Down 0.2%

VGNT traded down $0.06 during trading on Thursday, hitting $34.28. 232,932 shares of the company's stock were exchanged, compared to its average volume of 3,797,232. Versigent has a 1 year low of $26.34 and a 1 year high of $36.87.

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