There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on AppLovin (APP), Telus (TU) and Grid Dynamics Holdings (GDYN) with bullish sentiments.
AppLovin (APP)
AppLovin received a Buy rating and a $70.00 price target from Oppenheimer analyst Martin Yang today. The company’s shares closed last Friday at $57.26, close to its 52-week low of $54.72.
According to TipRanks.com, Yang is a 3-star analyst with an average return of 9.9% and a 52.3% success rate. Yang covers the Technology sector, focusing on stocks such as Sonim Technologies, Universal Display, and QuickLogic.
AppLovin has an analyst consensus of Strong Buy, with a price target consensus of $77.00, implying a 33.4% upside from current levels. In a report released today, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $75.00 price target.
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Telus (TU)
Canaccord Genuity analyst Aravinda Galappatthige maintained a Buy rating on Telus on May 7 and set a price target of C$29.00. The company’s shares closed last Friday at $21.66, close to its 52-week high of $21.85.
According to TipRanks.com, Galappatthige is a 4-star analyst with an average return of 8.2% and a 57.9% success rate. Galappatthige covers the Services sector, focusing on stocks such as Cogeco Communications, Shaw Communications, and Corus Entertainment.
Telus has an analyst consensus of Strong Buy, with a price target consensus of $25.93, implying a 20.7% upside from current levels. In a report issued on May 4, RBC Capital also reiterated a Buy rating on the stock with a C$30.00 price target.
Grid Dynamics Holdings (GDYN)
Northland Securities analyst Tim Savageaux maintained a Buy rating on Grid Dynamics Holdings today and set a price target of $19.00. The company’s shares closed last Friday at $15.39, close to its 52-week high of $16.85.
According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 24.3% and a 67.1% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
Currently, the analyst consensus on Grid Dynamics Holdings is a Strong Buy with an average price target of $19.60, representing a 32.5% upside. In a report issued on May 3, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $20.00 price target.
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