Analysts have been eager to weigh in on the Technology sector with new ratings on Cerence (CRNC), Palo Alto Networks (PANW) and Paylocity (PCTY).
Cerence (CRNC)
Raymond James analyst Brian Gesuale reiterated a Buy rating on Cerence today and set a price target of $80.00. The company’s shares closed last Monday at $72.53.
According to TipRanks.com, Gesuale is a 5-star analyst with an average return of 16.7% and a 72.9% success rate. Gesuale covers the Technology sector, focusing on stocks such as L3Harris Technologies, Roper Technologies, and Caci International.
Cerence has an analyst consensus of Strong Buy, with a price target consensus of $77.75, which is a 4.0% upside from current levels. In a report issued on November 13, Jefferies also maintained a Buy rating on the stock with a $74.00 price target.
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Palo Alto Networks (PANW)
Raymond James analyst Adam Tindle maintained a Hold rating on Palo Alto Networks today. The company’s shares closed last Monday at $278.50.
According to TipRanks.com, Tindle is a 1-star analyst with an average return of -2.4% and a 44.6% success rate. Tindle covers the Technology sector, focusing on stocks such as Ping Identity Holding, Insight Enterprises, and Motorola Solutions.
Currently, the analyst consensus on Palo Alto Networks is a Strong Buy with an average price target of $298.56, which is a 10.7% upside from current levels. In a report issued on November 11, RBC Capital also maintained a Hold rating on the stock with a $275.00 price target.
Paylocity (PCTY)
Raymond James analyst Brian Peterson maintained a Buy rating on Paylocity today. The company’s shares closed last Monday at $184.02.
According to TipRanks.com, Peterson is a top 25 analyst with an average return of 34.1% and a 74.2% success rate. Peterson covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Inc., ZoomInfo Technologies, and BigCommerce Holdings.
Currently, the analyst consensus on Paylocity is a Moderate Buy with an average price target of $199.73, representing a 6.1% upside. In a report issued on November 6, Cowen & Co. also maintained a Buy rating on the stock with a $215.00 price target.
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