There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on PTC Inc (NASDAQ:PTC) and Red Hat (NYSE:RHT) with bullish sentiments.
PTC Inc (PTC)
Cowen & Co. analyst Matthew Broome reiterated a Buy rating on PTC Inc on October 26 and set a price target of $105. The company’s shares closed on Friday at $79.98.
According to TipRanks.com, Broome is ranked #3455 out of 4874 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for PTC Inc with a $108.50 average price target, implying a 35.7% upside from current levels. In a report issued on October 26, Berenberg Bank also maintained a Buy rating on the stock with a $115 price target.
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Red Hat (RHT)
In a report released today, Gregg Moskowitz from Cowen & Co. reiterated a Buy rating on Red Hat, with a price target of $190. The company’s shares closed on Friday at $116.68, close to its 52-week low of $115.31.
According to TipRanks.com, Moskowitz is a 5-star analyst with an average return of 16.7% and a 61.9% success rate. Moskowitz covers the Technology sector, focusing on stocks such as Appian Corp, Atlassian, and CyberArk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Red Hat with a $162.50 average price target, a 39.3% upside from current levels. In a report issued on October 22, Needham also initiated coverage with a Buy rating on the stock with a $183 price target.
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