There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on 8X8 (EGHT) and New Relic (NEWR) with bullish sentiments.
8X8 (EGHT)
In a report released today, Ryan Koontz from Rosenblatt Securities maintained a Buy rating on 8X8, with a price target of $18.00. The company’s shares closed last Thursday at $27.93.
According to TipRanks.com, Koontz is a 5-star analyst with an average return of 26.1% and a 74.4% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Applied Optoelectronics, and CommScope Holding.
Currently, the analyst consensus on 8X8 is a Strong Buy with an average price target of $22.14, a -6.3% downside from current levels. In a report released today, Stephens also maintained a Buy rating on the stock with a $30.00 price target.
See today’s analyst top recommended stocks >>
New Relic (NEWR)
Needham analyst Jack Andrews assigned a Buy rating to New Relic today and set a price target of $72.00. The company’s shares closed last Thursday at $64.67.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 26.0% and a 66.5% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
Currently, the analyst consensus on New Relic is a Hold with an average price target of $65.40.
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