There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Adobe (ADBE) and GoDaddy (GDDY) with bullish sentiments.
Adobe (ADBE)
Canaccord Genuity analyst Richard Davis maintained a Buy rating on Adobe yesterday and set a price target of $350.00. The company’s shares closed last Tuesday at $318.24.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 41.6% and a 80.5% success rate. Davis covers the Technology sector, focusing on stocks such as Altair Engineering, Slack Technologies, and Bill.com Holdings.
Currently, the analyst consensus on Adobe is a Moderate Buy with an average price target of $342.41, an 8.2% upside from current levels. In a report issued on March 16, Morgan Stanley also maintained a Buy rating on the stock with a $366.00 price target.
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GoDaddy (GDDY)
In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on GoDaddy, with a price target of $94.00. The company’s shares closed last Tuesday at $57.11.
According to TipRanks.com, Khan is a 4-star analyst with an average return of 3.5% and a 51.6% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, TrueCar, and trivago.
Currently, the analyst consensus on GoDaddy is a Strong Buy with an average price target of $81.63, which is a 38.9% upside from current levels. In a report issued on March 20, Barclays also maintained a Buy rating on the stock with a $62.00 price target.
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