There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on VMware (VMW) and Mercadolibre (MELI) with bullish sentiments.
VMware (VMW)
In a report issued on March 6, Raimo Lenschow from Barclays maintained a Buy rating on VMware, with a price target of $152.00. The company’s shares closed last Monday at $117.13, close to its 52-week low of $114.56.
According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 18.3% and a 71.7% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Citrix Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VMware with a $168.93 average price target, which is a 43.5% upside from current levels. In a report issued on February 24, Jefferies also reiterated a Buy rating on the stock.
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Mercadolibre (MELI)
In a report issued on March 6, Deepak Mathivanan from Barclays maintained a Buy rating on Mercadolibre, with a price target of $750.00. The company’s shares closed last Monday at $614.51.
According to TipRanks.com, Mathivanan is a 5-star analyst with an average return of 13.5% and a 57.0% success rate. Mathivanan covers the Technology sector, focusing on stocks such as Activision Blizzard, GrubHub, and GoDaddy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mercadolibre with a $746.50 average price target, representing a 24.4% upside. In a report issued on February 20, BTIG also maintained a Buy rating on the stock with a $820.00 price target.
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