Redknee Solutions (RKN) Price Target Raised to C$0.90

Redknee Solutions (TSE:RKN) had its price objective boosted by Royal Bank of Canada from C$0.75 to C$0.90 in a research report issued to clients and investors on Friday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 15.89% from the company’s previous close.

A number of other research firms have also recently issued reports on RKN. Canaccord Genuity increased their price objective on shares of Redknee Solutions from C$0.75 to C$0.90 in a research report on Friday, December 8th. CIBC increased their price objective on shares of Redknee Solutions from C$0.85 to C$1.10 in a research report on Friday, December 8th.

Redknee Solutions (TSE:RKN) traded down C$0.02 during mid-day trading on Friday, hitting C$1.07. 15,800 shares of the stock were exchanged, compared to its average volume of 192,164. The company has a market cap of $282.58, a PE ratio of -1.75 and a beta of 1.28. Redknee Solutions has a one year low of C$0.67 and a one year high of C$1.63.

Redknee Solutions (TSE:RKN) last released its quarterly earnings data on Thursday, December 7th. The company reported C($0.08) earnings per share (EPS) for the quarter. The company had revenue of C$42.36 million for the quarter. Redknee Solutions had a negative return on equity of 170.96% and a negative net margin of 30.81%.

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About Redknee Solutions

Redknee Solutions Inc is a Canada-based company, which offers real-time monetization and subscriber management software products, solutions and services. The Company’s solutions include Redknee Communications Suite, including Revenue Management, fourth generation (4G) Monetization, Cloud Solutions, Marketing Solutions and Customer Experience, and Redknee Connected Suite, including Energy and Utilities, Internet of Things and Retail.

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