Micro Focus (LON:MCRO) Receives “Overweight” Rating from Barclays

Barclays reaffirmed their overweight rating on shares of Micro Focus (LON:MCRO) in a report released on Tuesday, March 20th. They currently have a GBX 1,500 ($21.20) price objective on the stock.

Other research analysts also recently issued research reports about the stock. Numis Securities downgraded shares of Micro Focus to an add rating and set a GBX 2,980 ($42.12) price objective for the company. in a research note on Monday, January 8th. JPMorgan Chase dropped their price objective on shares of Micro Focus from GBX 2,700 ($38.16) to GBX 2,500 ($35.34) and set a neutral rating for the company in a research note on Wednesday, January 17th. Credit Suisse Group raised shares of Micro Focus to a neutral rating and dropped their price objective for the company from GBX 1,975 ($27.92) to GBX 1,200 ($16.96) in a research note on Tuesday, March 20th. Goldman Sachs started coverage on shares of Micro Focus in a research note on Wednesday, December 13th. They set a neutral rating and a GBX 2,600 ($36.75) price objective for the company. Finally, Canaccord Genuity reaffirmed a buy rating and set a GBX 2,880 ($40.71) price objective on shares of Micro Focus in a research note on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of GBX 1,445 ($20.42).

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MCRO stock traded up GBX 88.50 ($1.25) during trading on Tuesday, hitting GBX 1,258.50 ($17.79). The stock had a trading volume of 6,728,523 shares, compared to its average volume of 1,560,000. Micro Focus has a 1-year low of GBX 26.78 ($0.38) and a 1-year high of GBX 2,970.50 ($41.99).

In related news, insider Darren Roos purchased 5,291 shares of the firm’s stock in a transaction on Friday, March 23rd. The stock was purchased at an average price of GBX 940 ($13.29) per share, for a total transaction of £49,735.40 ($70,297.39). Also, insider Kevin Loosemore purchased 20,156 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was bought at an average price of GBX 1,006 ($14.22) per share, with a total value of £202,769.36 ($286,599.80).

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About Micro Focus

Micro Focus International plc, an infrastructure software company, develops, sells, and supports software products and solutions to federal, airlines, and healthcare industries in the United Kingdom, the United States, Germany, France, Japan, and internationally. The company operates through Micro Focus and SUSE segments.

Analyst Recommendations for Micro Focus (LON:MCRO)

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