There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Cerence (CRNC) and Wix (WIX) with bullish sentiments.
Cerence (CRNC)
Raymond James analyst Brian Gesuale reiterated a Buy rating on Cerence today and set a price target of $115.00. The company’s shares closed last Monday at $88.72.
According to TipRanks.com, Gesuale is a 5-star analyst with an average return of 19.3% and a 72.4% success rate. Gesuale covers the Technology sector, focusing on stocks such as L3Harris Technologies, Trimble Navigation, and Caci International.
Cerence has an analyst consensus of Moderate Buy, with a price target consensus of $117.40.
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Wix (WIX)
In a report released today, Kenneth Wong from Guggenheim maintained a Buy rating on Wix. The company’s shares closed last Monday at $281.59.
According to TipRanks.com, Wong is a 4-star analyst with an average return of 24.5% and a 62.0% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Veeva Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wix with a $358.33 average price target, representing a 25.9% upside. In a report issued on April 26, Needham also assigned a Buy rating to the stock with a $340.00 price target.
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