Pivotree (CVE:PVT) Rating Lowered to Hold at 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 report issued to clients and investors on Thursday, BayStreet.CA reports. They presently have a C$1.50 price target on the stock, down from their previous price target of C$3.25. Canaccord Genuity Group’s target price indicates a potential upside of 3.45% from the stock’s previous close.

Separately, National Bankshares dropped their price target on shares of Pivotree from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research note on Thursday.

Pivotree Stock Performance

Shares of CVE:PVT traded up C$0.02 during trading on Thursday, reaching C$1.45. The company had a trading volume of 1,600 shares, compared to its average volume of 7,656. The company has a debt-to-equity ratio of 1.95, a current ratio of 3.74 and a quick ratio of 1.95. The stock’s fifty day moving average price is C$1.64 and its 200 day moving average price is C$1.75. Pivotree has a fifty-two week low of C$1.31 and a fifty-two week high of C$3.70. The firm has a market capitalization of C$38.41 million, a price-to-earnings ratio of -9.06 and a beta of 0.37.

Pivotree Company Profile

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.