There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Cars com Inc (NYSE:CARS) and Computer Task (NASDAQ:CTG) with bullish sentiments.
Cars com Inc (CARS)
In a report released today, Sameet Sinha from B.Riley FBR assigned a Buy rating to Cars com Inc, with a price target of $37. The company’s shares opened today at $31.33, close to its 52-week high of $32.94.
Sinha noted:
“We believe the valuation disconnect is due to the sluggish near- term revenue trend (minimal organic growth) as a result of the platform update/migration.”
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 7.2% and a 56.3% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Webcom Group, and Yelp Inc.
Currently, the analyst consensus on Cars com Inc is a Strong Buy with an average price target of $37.83.
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Computer Task (CTG)
In a report released today, Kevin Liu from B.Riley FBR reiterated a Buy rating on Computer Task, with a price target of $10. The company’s shares opened today at $8.03.
Liu commented:
“Computer Task Group (CTG) reports 2Q18 results on the market opens and will host its quarterly earnings call at 11:00AM ET (Dial-in: Passcode: 445604). We expect top and bottom line results within management’s guidance. Both our revenue estimate and the consensus sit below the midpoint of management’s 2Q guidance, leaving us comfortable with CTG’s prospects for delivering results at least in line with Street expectations. We expect a full quarter of contribution from the acquisition of SOFT COMPANY to fuel double-digit growth in both the staffing and solutions segments.”
According to TipRanks.com, Liu is a 5-star analyst with an average return of 15.4% and a 67.0% success rate. Liu covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and American Software.
Computer Task has an analyst consensus of Moderate Buy, with a price target consensus of $9.50, a 18.3% upside from current levels. In a report issued on July 12, Barrington also maintained a Buy rating on the stock with a $9 price target.
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