There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on II-VI (IIVI), Appian (APPN) and Avalara (AVLR) with bullish sentiments.
II-VI (IIVI)
Northland Securities analyst Tim Savageaux upgraded II-VI to Buy today and set a price target of $70.00. The company’s shares closed last Thursday at $59.91.
According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 22.5% and a 65.1% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
Currently, the analyst consensus on II-VI is a Strong Buy with an average price target of $102.00, a 70.5% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $90.00 price target.
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Appian (APPN)
Needham analyst Jack Andrews reiterated a Buy rating on Appian today and set a price target of $190.00. The company’s shares closed last Thursday at $98.93.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 22.1% and a 56.8% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
Currently, the analyst consensus on Appian is a Moderate Buy with an average price target of $191.67.
Avalara (AVLR)
In a report released today, Scott Berg from Needham maintained a Buy rating on Avalara, with a price target of $210.00. The company’s shares closed last Thursday at $124.08.
According to TipRanks.com, Berg is a top 100 analyst with an average return of 27.9% and a 67.4% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Avalara with a $197.90 average price target, representing a 52.8% upside. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $165.00 price target.
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