Softchoice (TSE:SFTC) Reaches New 52-Week High – What’s Next?

Softchoice Co. (TSE:SFTC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$22.87 and last traded at C$22.55, with a volume of 893 shares trading hands. The stock had previously closed at C$22.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SFTC shares. Cormark lifted their price objective on shares of Softchoice from C$24.00 to C$25.50 in a research report on Monday, November 11th. Royal Bank of Canada upped their target price on Softchoice from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Scotiabank upgraded Softchoice from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$20.00 to C$24.00 in a research note on Tuesday, November 12th. Finally, ATB Capital raised Softchoice from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$18.50 to C$23.00 in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Softchoice has an average rating of “Moderate Buy” and a consensus target price of C$22.67.

Softchoice Stock Performance

The stock has a market cap of C$1.42 billion, a PE ratio of 26.07 and a beta of -0.14. The business has a 50-day moving average of C$20.27 and a 200 day moving average of C$18.57.

About Softchoice

Softchoice Corporation designs, procures, implements, and manages information technology (IT) solutions in Canada and the United States. The company offers cloud and data center solutions, such as data center and application modernization; collaboration and digital workplace solutions comprising secure access, and adoption and change management; IT asset management solutions, including software and hardware asset management solutions, and IT procurement services; network and security support solutions.