There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on CarGurus (CARG) and Cloudflare (NET) with bullish sentiments.
CarGurus (CARG)
In a report released today, Jed Kelly from Oppenheimer maintained a Buy rating on CarGurus, with a price target of $38.00. The company’s shares closed last Thursday at $24.08.
According to TipRanks.com, Kelly is a 4-star analyst with an average return of 9.1% and a 46.9% success rate. Kelly covers the Technology sector, focusing on stocks such as Rush Street Interactive, Spotify Technology SA, and DraftKings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CarGurus with a $34.40 average price target.
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Cloudflare (NET)
In a report released today, Alex Henderson from Needham reiterated a Buy rating on Cloudflare, with a price target of $105.00. The company’s shares closed last Thursday at $69.07.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 24.4% and a 61.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
Cloudflare has an analyst consensus of Strong Buy, with a price target consensus of $98.33, representing a 33.1% upside. In a report issued on April 23, RBC Capital also maintained a Buy rating on the stock with a $100.00 price target.
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