Softchoice (TSE:SFTC) Sets New 1-Year High – Time to Buy?

Softchoice Co. (TSE:SFTC)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$24.00 and last traded at C$24.00, with a volume of 5358 shares trading hands. The stock had previously closed at C$23.59.

Analysts Set New Price Targets

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

Softchoice Stock Up 1.7 %

The firm’s 50-day moving average price is C$20.92 and its two-hundred day moving average price is C$18.83. The firm has a market capitalization of C$1.45 billion, a PE ratio of 26.21 and a beta of -0.14.

Softchoice Company Profile

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.