There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Brightcove Inc (BCOV) and ServiceNow (NOW) with bullish sentiments.
Brightcove Inc (BCOV)
Northland Securities analyst Michael Latimore maintained a Buy rating on Brightcove Inc today and set a price target of $14. The company’s shares closed yesterday at $11.70, close to its 52-week high of $11.79.
Latimore commented:
“We estimate organic growth was 6% and organic backlog growth 9%. BCOV is encouraged by traction in Europe, where new sales leadership joined at the start of 2Q. Bookings and deal size up in Europe. Revenue retention lower than expected at 87%. Raising FY19 revenue to $185 mil from $183 mil.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 13.5% and a 57.1% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Everbridge Inc.
Brightcove Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.50, a 15.4% upside from current levels. In a report issued on July 23, B.Riley FBR also maintained a Buy rating on the stock with a $13 price target.
See today’s analyst top recommended stocks >>
ServiceNow (NOW)
Northland Securities analyst Tim Klasell maintained a Buy rating on ServiceNow today and set a price target of $280. The company’s shares closed yesterday at $297.21, close to its 52-week high of $303.17.
According to TipRanks.com, Klasell is a 5-star analyst with an average return of 17.9% and a 71.2% success rate. Klasell covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Tyler Technologies, and Zix Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ServiceNow with a $308.64 average price target, a 3.8% upside from current levels. In a report issued on July 23, Needham also maintained a Buy rating on the stock with a $320 price target.
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