Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Cognex (CGNX), PTC (PTC) and 8X8 (EGHT).
Cognex (CGNX)
Needham analyst James Ricchiuti maintained a Hold rating on Cognex today. The company’s shares closed last Wednesday at $65.13.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 15.5% and a 63.3% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Cognex with a $61.80 average price target.
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PTC (PTC)
Needham analyst Richard Valera reiterated a Buy rating on PTC today and set a price target of $100.00. The company’s shares closed last Wednesday at $82.47.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 16.4% and a 63.4% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.
Currently, the analyst consensus on PTC is a Strong Buy with an average price target of $101.40, a 23.3% upside from current levels. In a report issued on October 15, Mizuho Securities also maintained a Buy rating on the stock with a $105.00 price target.
8X8 (EGHT)
Northland Securities analyst Michael Latimore maintained a Buy rating on 8X8 today and set a price target of $23.00. The company’s shares closed last Wednesday at $15.95.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 18.7% and a 55.7% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 8X8 with a $20.60 average price target, representing a 26.3% upside. In a report released today, Summit Redstone Partners also upgraded the stock to Buy with a $24.00 price target.
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