There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Citrix Systems (NASDAQ: CTXS) and Vonage Holdings (NYSE: VG) with bullish sentiments.
Citrix Systems (NASDAQ: CTXS)
In a report released today, Abhey Lamba from Mizuho Securities maintained a Buy rating on Citrix Systems (NASDAQ: CTXS), with a price target of $115. The company’s shares opened today at $107.78, close to its 52-week high of $107.99.
“We think the company is able to achieve this given a strong product offering and a competitive environment stacked in its favor. Our discussions with customers and partners indicate some enthusiasm around improving innovation at the company, and while deployments remain primarily on-premise, commentary suggests evaluations of the cloud product. We see incremental growth over the next couple of years on: 1) $200mm CSS opportunity with the migration likely to be completed in 3Q18; 2) $500mm opportunity further down the road on cloud uptake; though, this is likely to be driven in large part by the installed base vs. net new customers. Some product enhancements could help support sales. The engineering organization appears more streamlined; efficiency gains in the n-t are likely to be reinvested for growth.”
According to TipRanks.com, Lamba is a 5-star analyst with an average return of 14.5% and a 72.9% success rate. Lamba covers the Technology sector, focusing on stocks such as CommVault Systems, Microstrategy Inc, and Ultimate Software.
Currently, the analyst consensus on Citrix Systems is Moderate Buy and the average price target is $107.90, representing a 0.1% upside.
In a report issued on April 26, Wells Fargo also reiterated a Buy rating on the stock with a $120 price target.
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Vonage Holdings (NYSE: VG)
William Blair analyst Dmitry Netis maintained a Buy rating on Vonage Holdings (NYSE: VG) today. The company’s shares opened today at $11.43, close to its 52-week high of $11.94.
According to TipRanks.com, Netis is a 4-star analyst with an average return of 8.7% and a 54.7% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Acacia Communications, and Juniper Networks.
Currently, the analyst consensus on Vonage Holdings is Strong Buy and the average price target is $12.50, representing a 9.4% upside.
In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $14 price target.
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