Analysts have been eager to weigh in on the Technology sector with new ratings on NXT-ID Inc (NASDAQ: NXTD), Proofpoint Inc (NASDAQ: PFPT) and Red Hat (NYSE: RHT).
NXT-ID Inc (NASDAQ: NXTD)
In a report issued on June 12, Michael Diana from Maxim Group maintained a Buy rating on NXT-ID Inc (NASDAQ: NXTD), with a price target of $4. The company’s shares closed yesterday at $1.69, close to its 52-week low of $1.01.
Diana said:
“NXTD 1Q18’s results reflected solid progress in both payments (FitPay) and healthcare (LogicMark) in our view, with higher sequential-quarter revenues, lower sequential-quarter operating costs, and a gross profit margin of 70%.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 8.0% and a 66.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
NXT-ID Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
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Proofpoint Inc (NASDAQ: PFPT)
Oppenheimer analyst Shaul Eyal maintained a Hold rating on Proofpoint Inc (NASDAQ: PFPT) on June 12. The company’s shares closed yesterday at $125.13, close to its 52-week high of $130.27.
Eyal observed:
“We believe that PFPT’s positive market drivers remain intact supported by our view that: (1) security spending and cloud trends including Office365 migration dynamics remain tailwinds for PFPT and the broader cybersecurity environment; (2) PFPT’s international business represents <20% of its business, though we believe its Compliance segment ($38.8M during 1Q, +20.8% YoY, 23.8% of rev.) could benefit NT from the recently-implemented EU GDPR mandate; (3) juggling three recent acquisitions slightly elevates PFPT's risk profile, and we continue to view its current premium valuation of ~7.8x FY19E rev. vs. industry's 6.0x as fully valued. With that in mind, we're keeping our rev./EPS est. intact but realigning our billings est. (primarily seasonality adjustments) to be more in line with consensus. Maintain Perform."
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.6% and a 68.3% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Proofpoint Inc has an analyst consensus of Strong Buy, with a price target consensus of $131.91.
Red Hat (NYSE: RHT)
In a report issued on June 12, Abhey Lamba from Mizuho Securities maintained a Hold rating on Red Hat (NYSE: RHT), with a price target of $160. The company’s shares closed yesterday at $174.03, close to its 52-week high of $175.61.
Lamba noted:
“We expect revenues in- line with to modestly above the upper-end of guidance while billings could show modest upside as well. The full-year revenue outlook is likely to be pressured by incremental FX headwinds as a result of US Dollar appreciation. While we see continued strength in enterprise spending, we think current valuation of around 27x consensus FY20 FCF estimates seems full. We maintain a Neutral rating and $160 PT.”
According to TipRanks.com, Lamba is a 5-star analyst with an average return of 15.3% and a 72.7% success rate. Lamba covers the Technology sector, focusing on stocks such as CommVault Systems, Microstrategy Inc, and Ultimate Software.
Red Hat has an analyst consensus of Moderate Buy, with a price target consensus of $170.50.
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