There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Wix (WIX) and Zscaler (ZS) with bullish sentiments.
Wix (WIX)
RBC Capital analyst Mark Mahaney maintained a Buy rating on Wix on December 9 and set a price target of $350.00. The company’s shares closed last Thursday at $271.78.
According to TipRanks.com, Mahaney is a top 25 analyst with an average return of 41.4% and a 69.5% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Jumia Technologies AG, and Zillow Group Class A.
Wix has an analyst consensus of Strong Buy, with a price target consensus of $317.00, representing a 29.1% upside. In a report issued on December 9, J.P. Morgan also upgraded the stock to Buy with a $305.00 price target.
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Zscaler (ZS)
RBC Capital analyst Matthew Hedberg maintained a Buy rating on Zscaler on December 9 and set a price target of $180.00. The company’s shares closed last Thursday at $179.75, close to its 52-week high of $189.65.
According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 31.6% and a 77.1% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and CrowdStrike Holdings.
Currently, the analyst consensus on Zscaler is a Moderate Buy with an average price target of $181.94, a 5.2% upside from current levels. In a report issued on November 25, Credit Suisse also upgraded the stock to Buy with a $160.00 price target.
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