There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Cree (CREE) and Domo (DOMO) with bullish sentiments.
Cree (CREE)
In a report released yesterday, Jonathan Dorsheimer from Canaccord Genuity maintained a Buy rating on Cree, with a price target of $79.00. The company’s shares closed last Thursday at $61.16.
According to TipRanks.com, Dorsheimer is a 4-star analyst with an average return of 4.9% and a 47.6% success rate. Dorsheimer covers the Technology sector, focusing on stocks such as Stmicroelectronics, IPG Photonics, and Plug Power.
Currently, the analyst consensus on Cree is a Moderate Buy with an average price target of $69.13, which is a 5.2% upside from current levels. In a report issued on August 19, Charter Equity also maintained a Buy rating on the stock.
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Domo (DOMO)
Needham analyst Jack Andrews reiterated a Buy rating on Domo today and set a price target of $61.00. The company’s shares closed last Thursday at $37.28.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 24.3% and a 67.7% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Domo with a $40.17 average price target.
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