The stock of Sandvine Corporation (TSE:SVC) gapped up by $0.01 today and has $7.83 target or 160.00% above today’s $3.01 share price. The 7 months technical chart setup indicates low risk for the $408.23M company. The gap was reported on Nov, 10 by Barchart.com. If the $7.83 price target is reached, the company will be worth $653.17 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 51,232 shares traded hands. Sandvine Corporation (TSE:SVC) has risen 2.75% since April 6, 2016 and is uptrending. It has underperformed by 2.90% the S&P500.
Sandvine Corporation (TSE:SVC) Ratings Coverage
Out of 5 analysts covering Sandvine Corporation (TSE:SVC), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $4.70 is the highest target while $3 is the lowest. The $3.89 average target is 29.24% above today’s ($3.01) stock price. Sandvine Corporation has been the topic of 20 analyst reports since September 10, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by TD Securities on Friday, July 8. The firm earned “Buy” rating on Friday, October 7 by TD Securities. On Friday, October 7 the stock rating was upgraded by Desjardins Securities to “Buy”. The stock has “Outperform” rating given by Scotia Capital on Friday, July 8. Scotia Capital maintained it with “Outperform” rating and $3.50 target price in Friday, October 7 report. The company was maintained on Friday, July 8 by Desjardins Securities. The stock of Sandvine Corporation (TSE:SVC) earned “Outperform” rating by RBC Capital Markets on Friday, July 8. On Friday, October 9 the stock rating was maintained by RBC Capital Markets with “Outperform”.
More news for Sandvine Corporation (TSE:SVC) were recently published by: Marketwatch.com, which released: “Sandvine Corp.” on April 24, 2011. Fool.ca‘s article titled: “Why Sandvine Corporation Shares Surged” and published on April 10, 2014 is yet another important article.
Sandvine Corporation develops and markets Network Policy Control solutions for communications service providers. The company has a market cap of $408.23 million. The Company’s Network Policy Control solutions consists a hardware platform and software modules that are bundled together to provide a system for broadband communications service providers to identify , report on and take action on the data traversing their networks. It has a 9.16 P/E ratio. The Company’s hardware platform, Policy Traffic Switch (PTS) product line includes over three hardware models, the PTS 22000, PTS 24000 and PTS 32000.
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