Analysts have been eager to weigh in on the Technology sector with new ratings on Altair Engineering Inc (ALTR) and Cardlytics Inc (CDLX).
Altair Engineering Inc (ALTR)
Canaccord Genuity analyst Richard Davis maintained a Hold rating on Altair Engineering Inc yesterday and set a price target of $36. The company’s shares opened today at $38.75.
Davis commented:
“We are positive on Altair’s core simulation prospects for the simple reason that the firm’s software in almost every instance is best in class. Upgrade cycles take time in this space, because engineers fear productivity loss when they let go of past models and design methodologies, but here again, Altair’s tools and connectors make adoption and switchovers easier. Indeed, we suggest that Altair has incrementally improved on each of those attributes since the firm’s November 2017 IPO.”
According to TipRanks.com, Davis is a top 25 analyst with an average return of 43.5% and a 86.0% success rate. Davis covers the Technology sector, focusing on stocks such as Upland Software, Salesforce.com, and Everbridge Inc.
Altair Engineering Inc has an analyst consensus of Moderate Buy, with a price target consensus of $38, a -1.9% downside from current levels. In a report issued on March 1, RBC Capital also maintained a Hold rating on the stock with a $38 price target.
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Cardlytics Inc (CDLX)
In a report released today, Youssef Squali from SunTrust Robinson maintained a Buy rating on Cardlytics Inc, with a price target of $25. The company’s shares opened today at $15.97.
Squali commented:
“We hosted CDLX’s mgt for an NDR in NYC with the goal of providing investors more color around the LT vision/strategy, details on 4Q earnings, learnings from the JPM rollout and importantly, the pace of conversations with advertisers. We walked away incrementally positive about the health of the supply/demand on the platform, but a material resumption of Y/Y growth isn’t likely until 2H19/2020. As a unique digital mktg channel in a brand-safe and bot/fraud- free environment, CDLX drives traffic to merchants by showing targeted ads using rich proprietary data, which we believe ensures high ROI. 1Q19 Guide.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 22.8% and a 71.1% success rate. Squali covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, IAC/InterActiveCorp, and Match Group Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cardlytics Inc with a $24 average price target, representing a 50.3% upside. In a report issued on March 6, KeyBanc also maintained a Buy rating on the stock with a $25 price target.
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