There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Adobe (NASDAQ: ADBE) and Hortonworks (NASDAQ: HDP) with bullish sentiments.
Adobe (NASDAQ: ADBE)
Credit Suisse analyst Brad Zelnick maintained a Buy rating on Adobe (NASDAQ: ADBE) on June 15 and set a price target of $275. The company’s shares opened today at $250.52, close to its 52-week high of $258.91.
Zelnick noted:
“We believe F3Q guidance is prudently conservative, accounting for seasonality in Europe as well as GDPR.”
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.
Currently, the analyst consensus on Adobe is Moderate Buy and the average price target is $270.36, representing a 7.9% upside.
In a report issued on June 11, RBC Capital also maintained a Buy rating on the stock with a $268 price target.
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Hortonworks (NASDAQ: HDP)
In a report issued on June 15, Marshall Senk from Rosenblatt Securities reiterated a Buy rating on Hortonworks (NASDAQ: HDP), with a price target of $25. The company’s shares opened today at $19.
Senk noted:
“We saw a material acceleration in HDF deployments last year and into Q1 and look for that to continue throughout the year. HDF allows customers to move and analyze data in real time and is a unique offering for Horton- works. In our research, we have come across use cases in diverse areas including fraud detection, proactive maintenance of equipment and invento- ry optimization – cases where timing the velocity of the data are para- mount. HDF is complementary to HDP and management suggested it is seeing upsell over around 50% versus just HDP.”
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 Hortonworks is Moderate Buy and the average price target is $23.40, representing a 23.2% upside.
In a report issued on June 15, Monness also maintained a Buy rating on the stock with a $25 price target.
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