Analysts Offer Insights on Technology Companies: Elastic (ESTC) and Tencent Music Entertainment Group (TME)


Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Elastic (ESTC) and Tencent Music Entertainment Group (TME).

Elastic (ESTC)

Elastic received a Hold rating and a $120.00 price target from Robert W. Baird analyst Jonathan Ruykhaver today. The company’s shares closed last Thursday at $104.71, close to its 52-week high of $117.53.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 21.7% and a 65.7% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.

Currently, the analyst consensus on Elastic is a Strong Buy with an average price target of $129.08.

See today’s analyst top recommended stocks >>

Tencent Music Entertainment Group (TME)

In a report released today, Bo Pei CFA from Oppenheimer maintained a Buy rating on Tencent Music Entertainment Group, with a price target of $20.00. The company’s shares closed last Thursday at $14.72.

According to TipRanks.com, CFA is ranked #6016 out of 6915 analysts.

Tencent Music Entertainment Group has an analyst consensus of Strong Buy, with a price target consensus of $17.44, implying a 19.0% upside from current levels. In a report released today, Needham also initiated coverage with a Buy rating on the stock with a $17.00 price target.

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