There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Wix (WIX), NetEase (NTES) and SciPlay (SCPL) with bullish sentiments.
Wix (WIX)
RBC Capital analyst Mark Mahaney maintained a Buy rating on Wix on May 11 and set a price target of $143.00. The company’s shares closed last Wednesday at $164.45, close to its 52-week high of $171.19.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 12.7% and a 57.8% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Jumia Technologies AG, and Uber Technologies.
Wix has an analyst consensus of Strong Buy, with a price target consensus of $156.25, a -6.2% downside from current levels. In a report issued on April 27, SunTrust Robinson also maintained a Buy rating on the stock with a $167.00 price target.
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NetEase (NTES)
Nomura analyst Jialong Shi maintained a Buy rating on NetEase on May 11 and set a price target of $439.00. The company’s shares closed last Wednesday at $367.96.
According to TipRanks.com, Shi is a 5-star analyst with an average return of 16.1% and a 65.2% success rate. Shi covers the Technology sector, focusing on stocks such as Tencent Holdings, Bilibili, and Baidu.
Currently, the analyst consensus on NetEase is a Strong Buy with an average price target of $407.83, which is an 11.8% upside from current levels. In a report issued on May 7, Barclays also maintained a Buy rating on the stock with a $390.00 price target.
SciPlay (SCPL)
In a report issued on May 11, Shweta Khajuria from RBC Capital maintained a Buy rating on SciPlay, with a price target of $13.00. The company’s shares closed last Wednesday at $11.88.
According to TipRanks.com, Khajuria is a 4-star analyst with an average return of 15.5% and a 65.0% success rate. Khajuria covers the Technology sector, focusing on stocks such as J2 Global, TrueCar, and Yelp.
Currently, the analyst consensus on SciPlay is a Moderate Buy with an average price target of $12.54, implying a -0.6% downside from current levels. In a report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $15.50 price target.
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