Pivotree (CVE:PVT) Stock Rating Lowered by Canaccord Genuity Group

Pivotree (CVE:PVT) was downgraded by stock analysts at Canaccord Genuity Group from a “speculative buy” rating to a “hold” rating in a research note issued on Thursday, BayStreet.CA reports. They currently have a C$1.50 target price on the stock, down from their previous target price of C$3.25. Canaccord Genuity Group’s target price would indicate a potential upside of 3.45% from the company’s previous close.

Separately, National Bankshares reduced their price target on Pivotree from C$3.50 to C$3.00 and set an “outperform” rating for the company in a research report on Thursday.

Pivotree Stock Up 1.4 %

Shares of PVT stock traded up C$0.02 during trading hours on Thursday, reaching C$1.45. 1,600 shares of the company’s stock were exchanged, compared to its average volume of 7,656. Pivotree has a 1 year low of C$1.31 and a 1 year high of C$3.70. The company has a current ratio of 3.74, a quick ratio of 1.95 and a debt-to-equity ratio of 1.95. The stock has a market cap of C$38.41 million, a PE ratio of -9.06 and a beta of 0.37. The stock’s fifty day moving average price is C$1.64 and its two-hundred day moving average price is C$1.75.

About Pivotree

Pivotree Inc designs, integrates, deploys, and manages digital platforms in commerce, data management, and supply chain for retail and branded manufacturers in Canada and internationally. It operates in two segments, Professional Services and Managed Services. The company offers a combination of application support and managed hosting with digital strategy and software implementation services.