Zacks: Sify Technologies Limited (NASDAQ:SIFY) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Sify Technologies Limited (NASDAQ:SIFY) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price target of $4.00 for the company and are predicting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sify Technologies an industry rank of 111 out of 256 based on the ratings given to its competitors.

Separately, Maxim Group set a $4.00 price objective on shares of Sify Technologies and gave the stock a “buy” rating in a report on Wednesday, April 17th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. boosted its holdings in Sify Technologies by 6.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 585,332 shares of the technology company’s stock valued at $955,000 after purchasing an additional 36,220 shares during the period. River & Mercantile Asset Management LLP bought a new position in Sify Technologies in the 1st quarter valued at $187,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Sify Technologies in the 1st quarter valued at $37,000. 4.65% of the stock is owned by institutional investors.

SIFY traded up $0.01 on Friday, hitting $1.41. The company’s stock had a trading volume of 19,385 shares, compared to its average volume of 15,775. The stock’s 50 day simple moving average is $1.37. Sify Technologies has a 12 month low of $1.15 and a 12 month high of $2.08. The company has a current ratio of 1.19, a quick ratio of 1.07 and a debt-to-equity ratio of 0.31.

Sify Technologies Company Profile

Sify Technologies Ltd. engages in the provision of integrated Internet, network, and electronic commerce services in India. It operates through the following segments: Telecom-centric Services, and Data Center-centric Information Technology Services. The Telecom-centric Services segment includes domestic data, international data wholesale voice, and network managed services.

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