Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Criteo SA (CRTO), PTC Inc (PTC) and Carbonite Inc (CARB).
Criteo SA (CRTO)
Jefferies analyst Brian Fitzgerald maintained a Hold rating on Criteo SA on October 31 and set a price target of $25. The company’s shares closed on Friday at $22.07, close to its 52-week low of $19.85.
Fitzgerald wrote:
“Revenue decline (-5%) bested expectations as did Adj. EBITDA and guidance for 4Q was inline when adjusting for FX. As CRTO laps ITP integration and GDPR rollout in 1H19, we see opportunity for rev growth in ’19. However, investment continues in the shift from a point solution to a broader marketing suite and margins are likely to continue to compress. We remain on the sideline until CRTO can achieve better diversification of revenue outside of retargeting. 1) Non-retargeting products accelerated growth to 82% y/y (vs. 72% in 2Q). the total business (vs 6% in 2Q), investment in training sales staff on go-to market approach continues. We like the investment in diversifying the business away from the point solution of retargeting. However, we are cautious with how quickly this business scales past initial adopters.”
According to TipRanks.com, Fitzgerald is ranked #7 out of 4904 analysts.
Criteo SA has an analyst consensus of Moderate Buy, with a price target consensus of $31.10, implying a 40.9% upside from current levels. In a report issued on November 1, Nomura also maintained a Hold rating on the stock with a $25 price target.
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PTC Inc (PTC)
Evercore ISI analyst Kenneth Talanian maintained a Buy rating on PTC Inc on November 2 and set a price target of $110. The company’s shares closed on Friday at $86.56.
Talanian commented:
“We hosted a series of investor meetings with Miller, SVP of and VP of Investor Relations Noelle Faris. Please see within for key takeaways. PTC management brought an upbeat tone to meetings that we believe is appropriately reflective of results. We believe that PTC’s business sees little evidence of a slowing macro environment, and that the F19 guidance is de-risked by implied below market level growth assumptions and minimal if any contributions from partners. Further we believe the company’s secular growth exposure (IoT/AR, CAD channel) and benefits from the subscription model (better pricing/discounting control, subscription conversion uplift) remain tailwinds.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 13.2% and a 64.3% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.
PTC Inc has an analyst consensus of Strong Buy, with a price target consensus of $110.57, a 27.7% upside from current levels. In a report issued on October 26, Berenberg Bank also maintained a Buy rating on the stock with a $115 price target.
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Carbonite Inc (CARB)
Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Carbonite Inc on November 2 and set a price target of $45. The company’s shares closed on Friday at $26.97.
According to TipRanks.com, Senk is a 5-star analyst with an average return of 18.0% and a 63.0% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Oracle Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carbonite Inc with a $42.83 average price target, which is a 58.8% upside from current levels. In a report issued on October 30, B.Riley FBR also reiterated a Buy rating on the stock with a $42 price target.
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