There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Elastic (ESTC) and NetApp (NTAP) with bullish sentiments.
Elastic (ESTC)
In a report released today, Brian White from Monness maintained a Buy rating on Elastic, with a price target of $200.00. The company’s shares closed last Wednesday at $156.70, close to its 52-week high of $176.49.
According to TipRanks.com, White is a top 100 analyst with an average return of 33.1% and a 78.8% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Alphabet Class A.
Currently, the analyst consensus on Elastic is a Strong Buy with an average price target of $178.64, a 16.7% upside from current levels. In a report issued on February 19, RBC Capital also maintained a Buy rating on the stock with a $175.00 price target.
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NetApp (NTAP)
In a report released today, Nehal Chokshi from Northland Securities reiterated a Buy rating on NetApp, with a price target of $100.00. The company’s shares closed last Wednesday at $71.57, close to its 52-week high of $71.68.
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 22.8% and a 64.1% success rate. Chokshi covers the Technology sector, focusing on stocks such as Super Micro Computer, Palo Alto Networks, and Avid Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NetApp with a $66.59 average price target, representing a -3.3% downside. In a report issued on February 19, Longbow Research also upgraded the stock to Buy.
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