Analysts Offer Insights on Technology Companies: Allscripts (ORCL) and Oracle Corp (ORCL)

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Allscripts (NASDAQ: MDRX) and Oracle Corp (NYSE: ORCL) with bullish sentiments.

Allscripts (NASDAQ: MDRX)

Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Allscripts (NASDAQ: MDRX) yesterday and set a price target of $18. The company’s shares closed yesterday at $12.61.

Halper commented:

“. We reiterate our Overweight rating on MDRX shares. The stock offers 43% upside potential to our 12-month price target of $18. We continue to believe that Allscripts’ growth outlook has improved after a series of strategic acquisitions. The acquisitions of McKesson’s EIS business and Practice Fusion added a significant amount of recurring revenue. With its 1Q18 release, the company announced the acquisition of privately-held HealthGrid, a provider of patient engagement tools to providers. Finally, at a recent competitor conference, the company indicated it has been “pretty active” in stock repurchases in 2Q18, after repurchasing $50 million in 1Q18.”

According to TipRanks.com, Halper is a top 100 analyst with an average return of 19.9% and a 71.9% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

Allscripts has an analyst consensus of Strong Buy, with a price target consensus of $16.80.

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Oracle Corp (NYSE: ORCL)

Credit Suisse analyst Brad Zelnick maintained a Buy rating on Oracle Corp (NYSE: ORCL) yesterday and set a price target of $60. The company’s shares closed yesterday at $47.68.

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 12.0% and a 76.7% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Cornerstone Ondemand, and Ultimate Software.

Oracle Corp has an analyst consensus of Moderate Buy, with a price target consensus of $56.43.

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