There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Anaplan (PLAN) and RingCentral (RNG) with bullish sentiments.
Anaplan (PLAN)
Monness analyst Brian White maintained a Buy rating on Anaplan on November 24 and set a price target of $80.00. The company’s shares closed last Monday at $69.99, close to its 52-week high of $71.53.
According to TipRanks.com, White is a top 100 analyst with an average return of 31.1% and a 78.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Alphabet Class A.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anaplan with a $74.06 average price target, representing a 6.4% upside. In a report issued on November 19, RBC Capital also maintained a Buy rating on the stock with a $75.00 price target.
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RingCentral (RNG)
In a report issued on November 10, Nikolay Beliov from Merrill Lynch reiterated a Buy rating on RingCentral, with a price target of $350.00. The company’s shares closed last Monday at $297.05, close to its 52-week high of $317.84.
According to TipRanks.com, Beliov is a 5-star analyst with an average return of 38.7% and a 72.2% success rate. Beliov covers the Technology sector, focusing on stocks such as Zoom Video Communications, Twilio, and JFrog.
Currently, the analyst consensus on RingCentral is a Strong Buy with an average price target of $338.50, a 14.4% upside from current levels. In a report issued on November 10, Oppenheimer also reiterated a Buy rating on the stock with a $330.00 price target.
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