There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Alarmcom (ALRM) and Workday Inc (WDAY) with bullish sentiments.
Alarmcom (ALRM)
Roth Capital analyst Darren Aftahi maintained a Buy rating on Alarmcom today and set a price target of $66. The company’s shares closed yesterday at $65.63, close to its 52-week high of $65.85.
Aftahi said:
“We believe the story remains intact, with steady SaaS growth, and what could be a conservative hardware guide amongst investment in product/analytics that could aid hardware. Maintain Buy, raising PT to $66 on slightly better growth.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 14.0% and a 56.0% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alarmcom with a $67.33 average price target, implying a 2.6% upside from current levels. In a report released today, Maxim Group also reiterated a Buy rating on the stock with a $74 price target.
See today’s analyst top recommended stocks >>
Workday Inc (WDAY)
In a report released today, Kash Rangan from Merrill Lynch reiterated a Buy rating on Workday Inc, with a price target of $208. The company’s shares closed yesterday at $197.93, close to its 52-week high of $199.45.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.6% and a 67.4% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce.com, Oracle Corp, and Splunk Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Workday Inc with a $213.29 average price target, representing a 7.8% upside. In a report issued on February 14, Guggenheim also maintained a Buy rating on the stock with a $210 price target.
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