Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Cerner Corp (CERN) and MobileIron, Inc. (MOBL).
Cerner Corp (CERN)
In a report released today, Mohan Naidu from Oppenheimer maintained a Hold rating on Cerner Corp. The company’s shares closed yesterday at $64.60, close to its 52-week high of $67.57.
Naidu commented:
“CERN reported bookings ahead of our expectations at $1.24B but came slightly below our estimates on revenue and EPS. But the recently announced agreement with the activist investor (Starboard) will drive the consensus margins and earnings higher through the year. Specifically, the company expected to reach 20% and 22.5% adj. OM by Q4’19 and Q4’20, respectively, which is a significant lift in margins. Additionally, the increased share repurchase program will drive further upside to earnings. As the company rationalizes the costs and the product portfolio, we believe the target margins are achievable. While the growth is likely to be impacted, the margin and earnings improvement story, along with the new dividend, will likely attract a new set of investors.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 9.2% and a 52.7% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cerner Corp with a $69.38 average price target.
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MobileIron, Inc. (MOBL)
Northland Securities analyst Robert Breza maintained a Buy rating on MobileIron, Inc. today and set a price target of $6.50. The company’s shares closed yesterday at $6.01, close to its 52-week high of $6.03.
According to TipRanks.com, Breza is a 5-star analyst with an average return of 13.4% and a 63.6% success rate. Breza covers the Technology sector, focusing on stocks such as Coupa Software Inc, Salesforce.com, and Check Point.
Currently, the analyst consensus on MobileIron, Inc. is a Moderate Buy with an average price target of $5.75.
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