Analysts Offer Insights on Technology Companies: Paylocity (PCTY), Mimecast Ltd (MIME) and Altair Engineering Inc (ALTR)


Analysts have been eager to weigh in on the Technology sector with new ratings on Paylocity (NASDAQ:PCTY), Mimecast Ltd (NASDAQ:MIME) and Altair Engineering Inc (NASDAQ:ALTR).

Paylocity (PCTY)

In a report released yesterday, Mark Marcon from Robert W. Baird reiterated a Buy rating on Paylocity, with a price target of $68. The company’s shares closed yesterday at $64.05, close to its 52-week high of $66.14.

According to TipRanks.com, Marcon is a 5-star analyst with an average return of 31.8% and a 85.3% success rate. Marcon covers the Services sector, focusing on stocks such as AMN Healthcare Services Inc, Korn/Ferry International, and Insperity Inc.

Paylocity has an analyst consensus of Moderate Buy, with a price target consensus of $70.67, implying a 10.3% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $78 price target.

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Mimecast Ltd (MIME)

In a report released today, Keith Bachman from BMO Capital maintained a Buy rating on Mimecast Ltd, with a price target of $47. The company’s shares closed yesterday at $40.19.

According to TipRanks.com, Bachman is a 5-star analyst with an average return of 16.9% and a 69.2% success rate. Bachman covers the Technology sector, focusing on stocks such as DXC Technology Company, Infosys Limited, and Salesforce.com.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mimecast Ltd with a $48.50 average price target, which is a 20.7% upside from current levels. In a report released today, Oppenheimer also reiterated a Buy rating on the stock with a $45 price target.

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Altair Engineering Inc (ALTR)

In a report released today, Sterling Auty from J.P. Morgan maintained a Hold rating on Altair Engineering Inc, with a price target of $40. The company’s shares closed yesterday at $36.54, close to its 52-week high of $37.77.

According to TipRanks.com, Auty is a 5-star analyst with an average return of 15.0% and a 67.8% success rate. Auty covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Forescout Technologies Inc, and Synchronoss Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Altair Engineering Inc with a $39.75 average price target, an 8.8% upside from current levels. In a report released today, Canaccord Genuity also maintained a Hold rating on the stock with a $38 price target.

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