Analysts’ Top Technology Picks: Veritone Inc (VERI), Wix.com Ltd (WIX)


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Veritone Inc (VERI) and Wix.com Ltd (WIX) with bullish sentiments.

Veritone Inc (VERI)

Northland Securities analyst Michael Latimore maintained a Buy rating on Veritone Inc today and set a price target of $20. The company’s shares closed yesterday at $8.47.

Latimore said:

“We heard via industry contacts that the LAPD has hired 40 people to handle the new redaction burden. These people could cost $3-$4 million per year we believe. We believe this legislation, including pending legislation in other states, motivated the high attendance on the webinar. The agencies are looking for ways to automate redaction and lower costs.”

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 14.8% and a 58.3% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.

Currently, the analyst consensus on Veritone Inc is a Strong Buy with an average price target of $14.38, representing a 69.8% upside. In a report issued on May 3, Roth Capital also maintained a Buy rating on the stock with a $15.50 price target.

See today’s analyst top recommended stocks >>

Wix.com Ltd (WIX)

In a report released today, Tim Klasell from Northland Securities maintained a Buy rating on Wix.com Ltd, with a price target of $120. The company’s shares closed yesterday at $142.09, close to its 52-week high of $143.82.

Klasell noted:

“We note the company has always had a self-service model, but with a growing and more sophisticated product line, we believe the company is finding a higher level of support translates into better paid subscription results. This personalized support will cost $15mn this year and $20mn per year going forward and is the main driver for the lower margins. On the positive side, management believes this will add 5% to the growth rate in 2020 and beyond.”

According to TipRanks.com, Klasell is a 5-star analyst with an average return of 18.9% and a 70.9% success rate. Klasell covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Tyler Technologies, and Zix Corporation.

Currently, the analyst consensus on Wix.com Ltd is a Moderate Buy with an average price target of $124.50, implying a -12.4% downside from current levels. In a report issued on May 13, Barclays also maintained a Buy rating on the stock with a $165 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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