There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on LogMeIn (NASDAQ:LOGM) and Okta Inc (NASDAQ:OKTA) with bullish sentiments.
LogMeIn (LOGM)
In a report released today, Richard Valera from Needham maintained a Buy rating on LogMeIn, with a price target of $100. The company’s shares opened today at $84.05, close to its 52-week low of $77.05.
According to TipRanks.com, Valera is a 4-star analyst with an average return of 9.2% and a 62.5% success rate. Valera covers the Consumer Goods sector, focusing on stocks such as Audiocodes Ltd, Cadence Design, and KVH Industries.
Currently, the analyst consensus on LogMeIn is a Moderate Buy with an average price target of $103.50, implying a 23.1% upside from current levels. In a report released today, Barclays also maintained a Buy rating on the stock with a $112 price target.
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Okta Inc (OKTA)
Needham analyst Alex Henderson maintained a Buy rating on Okta Inc today and set a price target of $75. The company’s shares opened today at $71.92, close to its 52-week high of $75.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 13.4% and a 53.4% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Lumentum Holdings, and Ceragon Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Okta Inc with a $76 average price target, a 5.7% upside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $74 price target.
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