Citigroup Has Lowered Expectations for Softcat (LON:SCT) Stock Price

Softcat (LON:SCT) had its price objective dropped by stock analysts at Citigroup from GBX 2,000 to GBX 1,960 in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 25.32% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Shore Capital reissued a “buy” rating and issued a GBX 1,950 price target on shares of Softcat in a report on Friday, August 1st. Liberum Capital raised shares of Softcat to a “buy” rating and set a GBX 1,800 price target on the stock in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Softcat in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Softcat presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,813.80.

Softcat Price Performance

Shares of LON:SCT opened at GBX 1,564 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of £3.11 billion, a PE ratio of 26.18, a P/E/G ratio of 11.51 and a beta of 0.71. Softcat has a twelve month low of GBX 1,427 and a twelve month high of GBX 1,960. The company has a 50-day moving average price of GBX 1,667.44 and a two-hundred day moving average price of GBX 1,654.81.

Softcat Company Profile

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.