There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on RingCentral (RNG) and Lyft (LYFT) with bullish sentiments.
RingCentral (RNG)
Merrill Lynch analyst Daniel Bartus reiterated a Buy rating on RingCentral today and set a price target of $450.00. The company’s shares closed last Tuesday at $296.67.
According to TipRanks.com, Bartus is a 5-star analyst with an average return of 78.7% and a 68.8% success rate. Bartus covers the Technology sector, focusing on stocks such as Zoom Video Communications, Qualtrics International, and Karooooo.
Currently, the analyst consensus on RingCentral is a Strong Buy with an average price target of $463.28, implying a 56.2% upside from current levels. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $400.00 price target.
See today’s analyst top recommended stocks >>
Lyft (LYFT)
In a report released today, Brian Fitzgerald from Wells Fargo maintained a Buy rating on Lyft, with a price target of $80.00. The company’s shares closed last Tuesday at $56.19.
According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 38.3% and a 75.8% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as LiveRamp Holdings, Uber Technologies, and Alphabet Class A.
Currently, the analyst consensus on Lyft is a Moderate Buy with an average price target of $71.68, a 27.6% upside from current levels. In a report issued on April 27, BTIG also maintained a Buy rating on the stock with a $80.00 price target.
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