Analysts Are Neutral on Top Technology Stocks: Varonis Systems (VRNS), Shopify (SHOP)
Analysts fell to the sidelines weighing in on Varonis Systems (VRNS) and Shopify (SHOP) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Varonis Systems (VRNS)
In a report released yesterday, Saket Kalia from Barclays maintained a Hold rating on Varonis Systems, with a price target of $51. The company’s shares opened today at $54.80.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 13.0% and a 59.9% success rate. Kalia covers the Technology sector, focusing on stocks such as SecureWorks Corp, Carbonite Inc, and Symantec Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Varonis Systems with a $63.91 average price target, implying a 16.6% upside from current levels. In a report released yesterday, Stifel Nicolaus also downgraded the stock to Hold with a $52 price target.
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Barclays analyst Deepak Mathivanan maintained a Hold rating on Shopify yesterday and set a price target of $155. The company’s shares opened today at $178.19, close to its 52-week high of $180.
According to TipRanks.com, Mathivanan is ranked #327 out of 5152 analysts.
Currently, the analyst consensus on Shopify is a Strong Buy with an average price target of $194.50, implying a 9.2% upside from current levels. In a report issued on February 11, RBC Capital also maintained a Hold rating on the stock with a $180 price target.
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