There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Global Payments (GPN), RingCentral (RNG) and Varonis Systems (VRNS) with bullish sentiments.
Global Payments (GPN)
Raymond James analyst John Davis maintained a Buy rating on Global Payments today and set a price target of $229.00. The company’s shares closed last Monday at $202.70, close to its 52-week high of $206.18.
Davis has an average return of 13.3% when recommending Global Payments.
According to TipRanks.com, Davis is ranked #173 out of 5894 analysts.
Currently, the analyst consensus on Global Payments is a Strong Buy with an average price target of $220.55, which is a 7.5% upside from current levels. In a report issued on January 27, Deutsche Bank also maintained a Buy rating on the stock with a $230.00 price target.
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RingCentral (RNG)
In a report released today, Nandan Amladi from Guggenheim maintained a Buy rating on RingCentral, with a price target of $250.00. The company’s shares closed last Monday at $229.94, close to its 52-week high of $233.81.
According to TipRanks.com, Amladi is a 5-star analyst with an average return of 9.7% and a 60.4% success rate. Amladi covers the Technology sector, focusing on stocks such as Zoom Video Communications, Cornerstone Ondemand, and Ceridian HCM Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RingCentral with a $243.15 average price target, representing a 6.5% upside. In a report issued on February 5, Merrill Lynch also maintained a Buy rating on the stock with a $237.00 price target.
Varonis Systems (VRNS)
In a report released today, Melissa Franchi from Morgan Stanley maintained a Buy rating on Varonis Systems, with a price target of $105.00. The company’s shares closed last Monday at $88.09, close to its 52-week high of $93.05.
According to TipRanks.com, Franchi is a 1-star analyst with an average return of -0.6% and a 53.7% success rate. Franchi covers the Technology sector, focusing on stocks such as Forescout Technologies, Tenable Holdings, and SecureWorks.
Currently, the analyst consensus on Varonis Systems is a Strong Buy with an average price target of $103.44, which is a 15.2% upside from current levels. In a report issued on February 7, Needham also maintained a Buy rating on the stock with a $110.00 price target.
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