ConvergeOne Holdings (CVON) Receives Average Recommendation of “Buy” from Analysts

ConvergeOne Holdings (NASDAQ:CVON) has been given an average broker rating score of 1.75 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company.

Brokers have set a 12-month consensus price objective of $12.00 for the company and are predicting that the company will post $0.13 EPS for the current quarter, according to Zacks. Zacks has also assigned ConvergeOne an industry rank of 42 out of 265 based on the ratings given to its competitors.

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Several analysts have commented on CVON shares. Needham & Company LLC assumed coverage on shares of ConvergeOne in a report on Monday, March 19th. They set a “buy” rating and a $12.00 target price on the stock. William Blair assumed coverage on shares of ConvergeOne in a report on Monday, March 19th. They issued an “outperform” rating on the stock. BTIG Research assumed coverage on shares of ConvergeOne in a report on Wednesday, March 21st. They issued a “buy” rating and a $12.00 price objective on the stock. ValuEngine downgraded shares of ConvergeOne from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Finally, Raymond James Financial assumed coverage on shares of ConvergeOne in a report on Wednesday, April 11th. They issued a “market perform” rating on the stock.

In other ConvergeOne news, Director Richard Katzman acquired 125,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $8.00 per share, for a total transaction of $1,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CVON stock traded up $0.05 during mid-day trading on Thursday, hitting $8.81. 260 shares of the company were exchanged, compared to its average volume of 144,761. The company has a market capitalization of $1,924.98 and a P/E ratio of 23.18. ConvergeOne has a 1-year low of $7.95 and a 1-year high of $10.83.

ConvergeOne (NASDAQ:CVON) last announced its earnings results on Tuesday, March 20th. The company reported $0.19 EPS for the quarter. The company had revenue of $299.23 million for the quarter. sell-side analysts forecast that ConvergeOne will post 1.04 earnings per share for the current year.

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ConvergeOne Company Profile

ConvergeOne Holdings, Inc provides collaboration and technology solutions for large and medium enterprises. It offers cloud solutions, such as C1CX, a collaboration solution spanning unified communications and contact centers with software applications, integration, and professional services; hosted collaboration solutions; and any communications as a service solution.

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