Analysts have been eager to weigh in on the Technology sector with new ratings on Adobe (ADBE) and Oracle Corp (ORCL).
Adobe (ADBE)
Barclays analyst Saket Kalia maintained a Buy rating on Adobe on March 15 and set a price target of $304. The company’s shares opened today at $257.76.
Kalia said:
“We respond to each below, and remember that FY19 ARR is going up by $30M organically and we still see a favorable setup on FY20 margins as M&A impact dissipates. PT unchanged.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 12.9% and a 57.0% success rate. Kalia covers the Technology sector, focusing on stocks such as CyberArk Software, Varonis Systems, and Pluralsight Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adobe with a $281.44 average price target, implying a 9.2% upside from current levels. In a report issued on March 7, Citigroup also reiterated a Buy rating on the stock with a $299 price target.
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Oracle Corp (ORCL)
In a report issued on March 15, Raimo Lenschow from Barclays maintained a Hold rating on Oracle Corp, with a price target of $55. The company’s shares opened today at $53.46, close to its 52-week high of $53.96.
Lenschow commented:
“We believe weak guidance reflects the portfolio mix effect – healthy growth businesses such as Fusion and NetSuite offset by declining segments such as DaaS, legacy hosting and on-prem apps. While we like the initial traction for autonomous database and next-gen IaaS, these products are still in early stages and we still see range-bound top-line growth prospects. While acknowledging the valuation support from aggressive capital returns, we believe current valuation (11.5 x CY20E FCF) remains fair considering underlying FCF growth prospects; maintain EW and $55 PT.The Numbers: ORCL delivered ~3% y/y (ccy) revenue growth, at the mid-point of management guidance and in-line with consensus. Cloud services and support grew 4% (also in-line, vs. 5% in Q2), while license revenue came ~1% ahead expectations and was flat y/y.”
According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 20.8% and a 75.9% success rate. Lenschow covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, SolarWinds Corporation, and Cornerstone Ondemand.
Oracle Corp has an analyst consensus of Hold, with a price target consensus of $54.22, representing a 1.4% upside. In a report issued on March 15, BMO Capital also downgraded the stock to Hold with a $53 price target.
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