Analysts Offer Insights on Technology Companies: 8X8 (EGHT), Novanta (NOVT) and Rada Electronics (RADA)


Companies in the Technology sector have received a lot of coverage today as analysts weigh in on 8X8 (EGHT), Novanta (NOVT) and Rada Electronics (RADA).

8X8 (EGHT)

In a report issued on May 11, William Power from Robert W. Baird maintained a Buy rating on 8X8, with a price target of $42.00. The company’s shares closed last Wednesday at $24.34.

According to TipRanks.com, Power is a top 100 analyst with an average return of 31.0% and a 65.0% success rate. Power covers the Technology sector, focusing on stocks such as Zoom Video Communications, Vonage Holdings, and Axon Enterprise.

Currently, the analyst consensus on 8X8 is a Moderate Buy with an average price target of $38.11, which is a 55.6% upside from current levels. In a report issued on May 10, Oppenheimer also maintained a Buy rating on the stock with a $50.00 price target.

See today’s analyst top recommended stocks >>

Novanta (NOVT)

In a report issued on May 11, Richard Eastman from Robert W. Baird maintained a Hold rating on Novanta, with a price target of $127.00. The company’s shares closed last Wednesday at $128.53.

According to TipRanks.com, Eastman is a 5-star analyst with an average return of 25.1% and a 78.0% success rate. Eastman covers the Technology sector, focusing on stocks such as Keysight Technologies, National Instruments, and Roper Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for Novanta with a $127.00 average price target.

Rada Electronics (RADA)

In a report issued on May 11, Peter Arment from Robert W. Baird maintained a Buy rating on Rada Electronics, with a price target of $17.00. The company’s shares closed last Wednesday at $11.34.

According to TipRanks.com, Arment is a 4-star analyst with an average return of 13.1% and a 61.0% success rate. Arment covers the Technology sector, focusing on stocks such as L3Harris Technologies, Raytheon Technologies, and Spirit AeroSystems.

Currently, the analyst consensus on Rada Electronics is a Strong Buy with an average price target of $16.33, a 33.5% upside from current levels. In a report issued on May 11, Canaccord Genuity also maintained a Buy rating on the stock with a $16.00 price target.

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