Analysts Are Bullish on These Technology Stocks: ADBE, INTU


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Adobe (NASDAQ: ADBE) and Intuit (NASDAQ: INTU) with bullish sentiments.

Adobe (NASDAQ: ADBE)

Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Adobe (NASDAQ: ADBE) on June 15 and set a price target of $265. The company’s shares opened today at $250.52, close to its 52-week high of $258.91.

Senk noted:

“We highlight Adobe’s ongoing strength in Creative Cloud with revenues up 29% topping $1.3 billion. We reiterate our buy rating and maintain our price target of $265. Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 28.3% and a 84.2% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.

Currently, the analyst consensus on Adobe is Moderate Buy and the average price target is $270.77, representing an 8.1% upside.

In a report issued on June 11, RBC Capital also maintained a Buy rating on the stock with a $268 price target.

See today’s analyst top recommended stocks >>

Intuit (NASDAQ: INTU)

Credit Suisse analyst Brad Zelnick maintained a Buy rating on Intuit (NASDAQ: INTU) today and set a price target of $215. The company’s shares opened today at $207.68, close to its 52-week high of $210.19.

Zelnick said:

“We hosted several investor meetings with Jerry Natoli, Intuit VP of Finance & Treasurer, Dominic Allon VP of IR. While no incremental information was revealed, we better appreciate the vast global opportunity in Small Business and ability to penetrate ~90% of the Consumer Tax market Intuit doesn’t already own. Reiterate Outperform.”

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 12.8% and a 71.9% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Cornerstone Ondemand, and Ultimate Software.

Intuit has an analyst consensus of Moderate Buy, with a price target consensus of $197.10.

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