There’s a lot to be optimistic about in the NA sector as 2 analysts just weighed in on Square Inc (SQ) and Avalara Inc (AVLR) with bullish sentiments.
Square Inc (SQ)
Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Square Inc today and set a price target of $91. The company’s shares closed yesterday at $82.69.
Foresi observed:
“: We maintain our Overweight rating on Square and raise our 12-month PT to $91 from $76. We are attracted to the company’s increasing market penetration, end user growth and improving margin profile, driven by SG&A leverage and an increasing margin contribution from other services. Square reported results above expectations and raised 2018 revenue guidance, while providing color regarding 2019. Gross Payment Volumes continued to see out-sized growth in the period. We expect rapid growth to continue and foresee further margin expansion going forward, although our expectations have moderated, driving stock performance.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.7% and a 80.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Square Inc has an analyst consensus of Moderate Buy, with a price target consensus of $92.67, representing a 12.1% upside. In a report issued on November 6, Citigroup also upgraded the stock to Buy with a $90 price target.
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Avalara Inc (AVLR)
In a report released today, Brent Bracelin from KeyBanc maintained a Buy rating on Avalara Inc, with a price target of $47. The company’s shares closed yesterday at $31.75, close to its 52-week low of $30.67.
Bracelin noted:
“We would remain Overweight on AVLR based on a multiyear opportunity to sustain 20%+ growth as it pioneers sales tax automation through a cloud platform. We are raising estimates slightly on improving fundamentals.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 22.0% and a 73.0% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Currently, the analyst consensus on Avalara Inc is a Strong Buy with an average price target of $42.50, representing a 33.9% upside. In a report released today, JMP Securities also upgraded the stock to Buy with a $40 price target.
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