There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Microsoft (NASDAQ:MSFT) and GrubHub (NYSE:GRUB) with bullish sentiments.
Microsoft (MSFT)
Oppenheimer analyst Timothy Horan maintained a Buy rating on Microsoft yesterday and set a price target of $127. The company’s shares closed yesterday at $112.14, close to its 52-week high of $113.73.
Horan commented:
“We will be attending MSFT’s annual developer conference on Orlando, FL. Ignite 2018 is sold out with over 25K attendees expected for 800+ deep dive/workshop sessions. Hybrid cloud will be the focus, highlighting improved capabilities/integration of 365, Azure, Dynamics and Teams/Skype. All presentations will be infused with AI, with more focus on edge compute. MSFT will seek to bundle in more value-added software services that target over a $300 billion market opportunity for MSFT. Exhibit 1 details these markets, with collaboration/productivity being the largest. Separately, our channel checks suggest trends remain strong, and as a result, we are increasing our capex estimates and tweaking other estimates.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 19.2% and a 80.9% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microsoft with a $121 average price target, implying a 7.9% upside from current levels. In a report issued on September 3, RBC Capital also maintained a Buy rating on the stock with a $124 price target.
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GrubHub (GRUB)
In a report released yesterday, Jason Helfstein from Oppenheimer maintained a Buy rating on GrubHub. The company’s shares closed yesterday at $140.28, close to its 52-week high of $149.35.
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 21.4% and a 65.4% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and IAC/InterActiveCorp.
Currently, the analyst consensus on GrubHub is a Moderate Buy with an average price target of $139.93, a -0.2% downside from current levels. In a report issued on September 14, Argus Research also maintained a Buy rating on the stock with a $170 price target.
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