Sify Technologies (SIFY) Given a $4.00 Price Target by Maxim Group Analysts

Sify Technologies (NASDAQ:SIFY) has been given a $4.00 target price by analysts at Maxim Group in a report issued on Wednesday, TipRanks reports. The firm presently has a “buy” rating on the technology company’s stock. Maxim Group’s price target indicates a potential upside of 156.41% from the company’s previous close.

The analysts wrote, “F4Q19 revenue of $81.3M, down 7% y/y missed our estimate of $97.3M while EBITDA of $11.9M, up 11.4% y/y topped our estimate of 11.7M.””

Sify Technologies stock traded up $0.03 during trading on Wednesday, hitting $1.56. The company had a trading volume of 100 shares, compared to its average volume of 36,960. Sify Technologies has a 1-year low of $1.15 and a 1-year high of $2.37. The company has a current ratio of 1.14, a quick ratio of 1.03 and a debt-to-equity ratio of 0.25.

An institutional investor recently bought a new position in Sify Technologies stock. Mercer Global Advisors Inc. ADV purchased a new position in Sify Technologies Limited (NASDAQ:SIFY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,659 shares of the technology company’s stock, valued at approximately $37,000. Mercer Global Advisors Inc. ADV owned approximately 0.06% of Sify Technologies as of its most recent SEC filing. 5.82% of the stock is owned by institutional investors.

Sify Technologies Company Profile

Sify Technologies Limited provides integrated ICT solutions and services in India and internationally. The company operates in five segments: Telecom Services, Data Center Services, Cloud and Managed Services, Technology Integration Services, and Applications Integration Services. The Telecom Services segment offers Internet protocol based virtual private network services, including intranets, extranets, and remote access applications; and last mile connectivity services.

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