Wall Street Analysts Are Bullish on Top Technology Picks


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Boingo Wireless Inc (WIFI) and Orbcomm Inc (ORBC) with bullish sentiments.

Boingo Wireless Inc (WIFI)

In a report released today, Paul Penney from Northland Securities maintained a Buy rating on Boingo Wireless Inc, with a price target of $35. The company’s shares opened today at $21.69.

Penney has an average return of 28.8% when recommending Boingo Wireless Inc.

According to TipRanks.com, Penney is ranked #1746 out of 5220 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boingo Wireless Inc with a $32 average price target, representing a 47.5% upside. In a report released today, Credit Suisse also reiterated a Buy rating on the stock with a $29 price target.

See today’s analyst top recommended stocks >>

Orbcomm Inc (ORBC)

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Orbcomm Inc, with a price target of $13. The company’s shares opened today at $8.

Latimore noted:

“We believe late new product releases and some supply issues played a factor too. Services rev was $38.6 mil (down 1.7%% y/y) v. our $40.1 mil estimate on less non- recurring installation revenue.. Hardware rev was $27.7 mil (down 24.5% y/y) v. our $34.8 mil est. 69k net sub adds v. our 85k est. and 127k a year ago. Services gross margin was 67.7% v. our 67.0% est. Hardware gross margin was 27.5% v. our 27.0% est. and 12.7% last year; due to better mix of higher-margin shipments. Newer, low-cost products are still about 50% of the mix. Adj EBITDA was $16.5 mil v. our $17.1 mil estimate.; included $1.5 mil non-recurring benefit of $1.5 mil. CFO of $12.4 mil. Ended 4Q with cash of $53.8 mil and debt of $247.2 mil.”

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 16.7% and a 59.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Everbridge Inc, Veritone Inc, and Liveperson.

Currently, the analyst consensus on Orbcomm Inc is a Moderate Buy with an average price target of $9.25, representing a 15.6% upside. In a report released today, First Analysis also maintained a Buy rating on the stock with a $10 price target.

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