There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Q2 Holdings (NYSE: QTWO), Accenture (NYSE: ACN) and YY Inc (NASDAQ: YY) with bullish sentiments.
Q2 Holdings (NYSE: QTWO)
Stifel Nicolaus analyst Tom Roderick maintained a Buy rating on Q2 Holdings (NYSE: QTWO) today and set a price target of $62. The company’s shares opened today at $57.55, close to its 52-week high of $59.65.
According to TipRanks.com, Roderick is a 5-star analyst with an average return of 17.4% and a 70.3% success rate. Roderick covers the Technology sector, focusing on stocks such as Nuance Communications, Salesforce.com, and Everbridge Inc.
Q2 Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $55.20.
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Accenture (NYSE: ACN)
Pivotal Research analyst Louis Miscioscia maintained a Buy rating on Accenture (NYSE: ACN) today and set a price target of $180. The company’s shares opened today at $160.71, close to its 52-week high of $165.58.
Miscioscia noted:
“We recently attended the Blue Prism (BP) and Automation Anywhere (AA) user conferences in NYC. We started writing about RPA (Robotic Process Automation) three years ago. There are many ways to evaluate this situation. From a BPO or IT Service provider standpoint there is conversion work to be had, however some of this is cannibalistic to the current or future revenue stream. It is hard to decipher the exact impact but we have gleaned from our contacts that contracts which used to have productivity declines of 2-5% annually, are now ~10%, and as we commented in a prior note, this can go as high as down 30% in the out years. Then some firms want to insource the task afterward, thus a projects entire revenue stream could be at risk once ramped, granted it takes time to roll out the automation solution.”
Miscioscia has an average return of 5.1% when recommending Accenture.
According to TipRanks.com, Miscioscia is ranked #3548 out of 4826 analysts.
Accenture has an analyst consensus of Moderate Buy, with a price target consensus of $170.
YY Inc (NASDAQ: YY)
UBS analyst Jerry Liu maintained a Buy rating on YY Inc (NASDAQ: YY) today and set a price target of $150. The company’s shares opened today at $107.36.
According to TipRanks.com, Liu is ranked #2791 out of 4826 analysts.
Currently, the analyst consensus on YY Inc is Moderate Buy and the average price target is $145.67, representing a 35.7% upside.
In a report released yesterday, Nomura also maintained a Buy rating on the stock with a $152 price target.
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