There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Proofpoint Inc (NASDAQ:PFPT) and Twilio Inc (NYSE:TWLO) with bullish sentiments.
Proofpoint Inc (PFPT)
In a report released today, Rob Owens from KeyBanc upgraded Proofpoint Inc to Buy, with a price target of $120. The company’s shares closed on Friday at $83.55, close to its 52-week low of $75.92.
According to TipRanks.com, Owens is a top 100 analyst with an average return of 23.6% and a 68.6% success rate. Owens covers the Technology sector, focusing on stocks such as Splunk Inc, Okta Inc, and Imperva.
Currently, the analyst consensus on Proofpoint Inc is a Strong Buy with an average price target of $118, representing a 41.2% upside. In a report issued on October 18, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $130 price target.
.
See today’s analyst top recommended stocks >>
Twilio Inc (TWLO)
Oppenheimer analyst Ittai Kidron maintained a Buy rating on Twilio Inc today and set a price target of $90. The company’s shares closed on Friday at $65.85.
Kidron commented:
“After taking time to digest the details of the SendGrid acquisition, we come away confident that management has opportunistically acquired a strategic asset that offers substantial revenue synergy. Our math suggests that 1% cross-sell penetration into both customer bases can drive ~$10M in incremental revenue, resulting in a ~ $106M revenue synergy opportunity in FY21. Beyond FY21, we see further upside as penetration rises (20%-30%) and as cohort usage and ARPU expands. Meanwhile, we see other synergies—a more comprehensive go-to-market strategy for Flex, OpEx leverage (especially G&A), and an optimized LT R&D roadmap—as rationale for the deal. Overall, we see the combination solidifying Twilio’s long-term revenue growth trajectory, justifying its premium valuation. Maintain Outperform, $90 PT.”
According to TipRanks.com, Kidron is a top 100 analyst with an average return of 20.9% and a 59.2% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Arista Networks, Radware Ltd, and Cisco.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Twilio Inc with a $88.42 average price target, a 34.3% upside from current levels. In a report issued on October 15, Monness also maintained a Buy rating on the stock with a $108 price target.
.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
