Analysts have been eager to weigh in on the Technology sector with new ratings on CA Inc (NASDAQ: CA) and Tabula Rasa HealthCare (NASDAQ: TRHC).
CA Inc (NASDAQ: CA)
In a report released today, Shaul Eyal from Oppenheimer maintained a Hold rating on CA Inc (NASDAQ: CA). The company’s shares closed yesterday at $34.56.
Eyal observed:
“For F4Q18 (Mar. ’18), on a non-GAAP basis, CA posted $0.62/$1,083M (revenue +7%) beating consensus’ $0.59/$1,082M estimates. CA is seeing a robust mainframe hardware cycle and believes that the strong mainframe performance pulled momentum from Enterprise Solutions. Renewal yield exceeded 90%; SaaS continues to deliver growth, and security-related demand was strong. The company announced a restructuring plan aimed at better aligning business priorities and expects to record a restructuring-related charge of $140M-$160M. For FY19 (Mar. ’19), it expects a 1% revenue headwind in enterprise solutions from the shift toward SaaS and subscription and also expects an impact from the planned wind-down of a long-term services agreement. Maintain Perform.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.5% and a 66.7% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Currently, the analyst consensus on CA Inc is Hold and the average price target is $36, representing a 4.2% upside.
In a report released yesterday, Credit Suisse also maintained a Hold rating on the stock with a $36 price target.
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Tabula Rasa HealthCare (NASDAQ: TRHC)
In a report released today, Mohan Naidu from Oppenheimer reiterated a Buy rating on Tabula Rasa HealthCare (NASDAQ: TRHC), with a price target of $47. The company’s shares closed yesterday at $43.05, close to its 52-week high of $43.72.
Naidu noted:
“Tabula Rasa reported 1Q numbers that exceeded our and consensus expectations at $44M/$0.10 vs. consensus of $43M/breakeven. While PACE continued its steady growth, the service segment outperformed both organically and in the SinfoniaRx segment, both of which grew strongly. The recent updates from CMS which focus on the opioid crisis and the addition of MTM costs into medical costs under the MLR calculation increase the importance and awareness of MTM services and are likely to draw more attention to TRHC’s solutions. Because of the unique product offering, we expect TRHC to benefit significantly from this tailwind. The interesting international opportunity mgmt. noted on the call and the increasing awareness of MTM increase our confidence in the story. Reiterate Outperform rating.”
According to TipRanks.com, Naidu is a 4-star analyst with an average return of 8.3% and a 54.7% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Currently, the analyst consensus on Tabula Rasa HealthCare is Strong Buy and the average price target is $45.50, representing a 5.7% upside.
In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $46 price target.
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