There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Mercadolibre (MELI) and Pegasystems (PEGA) with bullish sentiments.
Mercadolibre received a Buy rating and a $1800.00 price target from Stifel Nicolaus analyst Scott Devitt today. The company’s shares closed last Wednesday at $1530.54.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 34.3% and a 69.9% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.
Currently, the analyst consensus on Mercadolibre is a Strong Buy with an average price target of $1905.88, which is a 24.0% upside from current levels. In a report issued on April 22, BTIG also maintained a Buy rating on the stock with a price target.
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In a report released today, Jack Andrews from Needham reiterated a Buy rating on Pegasystems, with a price target of $180.00. The company’s shares closed last Wednesday at $118.06.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 22.5% and a 57.0% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and ServiceNow.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pegasystems with a $169.71 average price target, representing a 39.4% upside. In a report issued on April 29, JMP Securities also maintained a Buy rating on the stock with a $172.00 price target.
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