Stephens Cuts TruBridge (NASDAQ:TBRG) Price Target to $18.00
by Sarita Garza · The Markets DailyTruBridge (NASDAQ:TBRG – Free Report) had its target price trimmed by Stephens from $20.00 to $18.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.
TBRG has been the subject of several other research reports. Royal Bank Of Canada initiated coverage on TruBridge in a report on Friday, January 9th. They set a “sector perform” rating and a $23.00 price target for the company. Wall Street Zen upgraded TruBridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TruBridge in a research report on Wednesday, January 28th. Finally, Zacks Research upgraded TruBridge from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $20.17.
View Our Latest Report on TBRG
TruBridge Price Performance
Shares of TBRG opened at $16.24 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.91 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average is $18.25 and its 200 day moving average is $20.08. TruBridge has a 12-month low of $13.88 and a 12-month high of $27.15. The stock has a market cap of $242.14 million, a P/E ratio of 81.20 and a beta of 0.75.
TruBridge (NASDAQ:TBRG – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.38. TruBridge had a net margin of 0.85% and a return on equity of 12.23%. The firm had revenue of $87.79 million during the quarter, compared to analysts’ expectations of $87.60 million. Sell-side analysts anticipate that TruBridge will post 0.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TruBridge
Several hedge funds have recently bought and sold shares of TBRG. Legal & General Group Plc bought a new stake in shares of TruBridge during the 2nd quarter worth $26,000. First Horizon Corp purchased a new position in TruBridge in the 3rd quarter worth $42,000. New York State Common Retirement Fund bought a new stake in TruBridge in the second quarter worth $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in TruBridge during the second quarter valued at about $128,000. Finally, State of Wyoming purchased a new stake in TruBridge during the second quarter valued at about $161,000. 88.64% of the stock is currently owned by institutional investors.
TruBridge Company Profile
TruBridge, Inc is a technology solutions provider specializing in digital transformation and managed services for enterprise clients. The company focuses on helping organizations modernize and optimize their IT environments by leveraging cloud technologies, collaboration platforms, and security solutions. TruBridge’s core business activities include consulting, implementation, migration, training and ongoing support for Microsoft 365, Azure and related cloud services.
TruBridge offers a comprehensive suite of services designed to guide clients through every stage of their cloud adoption journey.