There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Zendesk (NYSE:ZEN) and Alphabet Inc (NASDAQ:GOOGL) with bullish sentiments.
Zendesk (ZEN)
In a report issued on October 28, Marshall Senk from Rosenblatt Securities reiterated a Buy rating on Zendesk, with a price target of $70. The company’s shares closed yesterday at $54.19.
Senk observed:
“We believe that Salesforce.com’s (CRM: Buy) turn away from directly selling to mid-market customers has been an increasing driver in the ZEN enterprise busi- ness as these customers are finding to be too complex and costly for their needs.”
According to TipRanks.com, Senk is a 5-star analyst with an average return of 15.8% and a 57.6% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zendesk with a $72.46 average price target, which is a 33.7% upside from current levels. In a report issued on October 15, Piper Jaffray also reiterated a Buy rating on the stock with a $72.50 price target.
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Alphabet Inc (GOOGL)
In a report released yesterday, Victor Anthony from Aegis Capital maintained a Buy rating on Alphabet Inc, with a price target of $1425. The company’s shares closed yesterday at $1034.73, close to its 52-week low of $984.
According to TipRanks.com, Anthony is a top 100 analyst with an average return of 16.2% and a 64.3% success rate. Anthony covers the Services sector, focusing on stocks such as Qurate Retail Group Inc, comScore, and Cimpress.
Currently, the analyst consensus on Alphabet Inc is a Strong Buy with an average price target of $1346.30, representing a 30.1% upside. In a report issued on October 17, Wedbush also initiated coverage with a Buy rating on the stock with a $1350 price target.
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