Analysts Offer Insights on Technology Companies: Brightcove Inc (BCOV) and ServiceNow (NOW)


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Brightcove Inc (BCOV) and ServiceNow (NOW) with bullish sentiments.

Brightcove Inc (BCOV)

Northland Securities analyst Michael Latimore maintained a Buy rating on Brightcove Inc today and set a price target of $14. The company’s shares closed yesterday at $8.74.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.3% and a 58.0% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Everbridge Inc, and Veritone Inc.

Currently, the analyst consensus on Brightcove Inc is a Moderate Buy with an average price target of $13.

See today’s analyst top recommended stocks >>

ServiceNow (NOW)

In a report released today, Tim Klasell from Northland Securities maintained a Buy rating on ServiceNow, with a price target of $280. The company’s shares closed yesterday at $242.70, close to its 52-week high of $251.65.

Klasell noted:

“We note that the larger governments are natural users (similar to MicroPact offering) and make up only 15% of new ACV this quarter. For many enterprise software companies this is in the 20-30% range and we think NOW is on track for this level. Note: this is often a lagging market so being under-represented at this stage is normal. Additionally we note international sales with about 50% of the new logos coming from outside the US and only a third of revenues coming internationally. (Note, ACV lags logos as customers take time to ramp). Ultimately we think international could easily be 40% plus of revenues.”

According to TipRanks.com, Klasell is a 5-star analyst with an average return of 20.9% and a 71.8% success rate. Klasell covers the Technology sector, focusing on stocks such as Tyler Technologies, Zix Corporation, and Splunk Inc.

Currently, the analyst consensus on ServiceNow is a Strong Buy with an average price target of $248.50, a 2.4% upside from current levels. In a report issued on April 12, Barclays also maintained a Buy rating on the stock with a $270 price target.

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