Analysts have been eager to weigh in on the Technology sector with new ratings on RingCentral (RNG) and Stampscom (STMP).
RingCentral (RNG)
In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on RingCentral, with a price target of $160.00. The company’s shares closed last Monday at $127.54.
According to TipRanks.com, Latimore is a 4-star analyst with an average return of 6.7% and a 47.4% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $156.45, which is a 28.2% upside from current levels. In a report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $160.00 price target.
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Stampscom (STMP)
In a report released today, Zach Cummins from B.Riley FBR maintained a Hold rating on Stampscom, with a price target of $62.50. The company’s shares closed last Monday at $72.85.
According to TipRanks.com, Cummins is ranked 0 out of 5 stars with an average return of -15.1% and a 30.6% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, American Software, and ChannelAdvisor.
The word on The Street in general, suggests a Hold analyst consensus rating for Stampscom with a $63.63 average price target, implying a -11.1% downside from current levels. In a report issued on September 26, Roth Capital also maintained a Hold rating on the stock with a $52.00 price target.
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