Analysts Are Bullish on Top Technology Stocks: Paycom (PAYC), FireEye Inc (FEYE)


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Paycom (NYSE:PAYC) and FireEye Inc (NASDAQ:FEYE) with bullish sentiments.

Paycom (PAYC)

In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Paycom, with a price target of $133. The company’s shares closed yesterday at $129.59.

Bracelin observed:

“We see advertising as an opportunistic investment that doesn’t change the high- margin (30%-plus) and durable growth (20%-plus) thesis looking out over the next two years.”

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 19.7% and a 70.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Salesforce.com, Everbridge Inc, and Ellie Mae Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paycom with a $142 average price target, implying a 9.6% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $136 price target.

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See today’s analyst top recommended stocks >>

FireEye Inc (FEYE)

Evercore ISI analyst Kenneth Talanian maintained a Buy rating on FireEye Inc today and set a price target of $22. The company’s shares closed yesterday at $16.85.

Talanian commented:

“We continue to believe FEYE can sustainably grow billings double-digit annually which is in part supported by the company’s $5M raise to F18 billings guidance, along with signs of stabilization in appliance hardware billings (which grew slightly y/y this quarter). We view FEYE’s efforts to diversify its product portfolio as successful, with a ~50/50 split between ratable network/email appliances and attached subscriptions and the company’s newer products YTD. Mgmt’s commentary on the call suggested confidence in the company’s pipeline, especially over the next few quarters. Note, we believe the company continues to have visibility into its pipeline 3-4 qtrs. out, albeit naturally less so than the next two qtrs. This quarter is yet another indicator of internal cost discipline and continued execution by FEYE’s mgmt. team.”

According to TipRanks.com, Talanian is a 4-star analyst with an average return of 10.6% and a 60.2% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and Autodesk.

FireEye Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.43, representing a 21.2% upside. In a report issued on October 17, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $22 price target.

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