There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Tencent Music Entertainment Group (TME), Square (SQ) and ZoomInfo Technologies (ZI) with bullish sentiments.
Tencent Music Entertainment Group (TME)
In a report released today, Vincent Yu from Needham initiated coverage with a Buy rating on Tencent Music Entertainment Group and a price target of $17.00. The company’s shares closed last Wednesday at $14.73.
According to TipRanks.com, Yu is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -10.1% and a 37.8% success rate. Yu covers the Technology sector, focusing on stocks such as China Online Education Group, So-Young International, and Ehang Holdings Ltd.
Tencent Music Entertainment Group has an analyst consensus of Strong Buy, with a price target consensus of $17.44.
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Square (SQ)
Square received a Buy rating and a $185.00 price target from Oppenheimer analyst Jed Kelly today. The company’s shares closed last Wednesday at $149.59, close to its 52-week high of $170.61.
According to TipRanks.com, Kelly is a 4-star analyst with an average return of 10.0% and a 48.9% success rate. Kelly covers the Technology sector, focusing on stocks such as Paypal Holdings, Black Knight, and Corelogic.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Square with a $153.00 average price target, which is a -1.8% downside from current levels. In a report issued on September 22, Loop Capital Markets also initiated coverage with a Buy rating on the stock with a $169.00 price target.
ZoomInfo Technologies (ZI)
In a report released today, David Hynes from Canaccord Genuity upgraded ZoomInfo Technologies to Buy, with a price target of $50.00. The company’s shares closed last Wednesday at $35.60, close to its 52-week low of $30.83.
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 31.0% and a 74.6% success rate. Hynes covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Slack Technologies, and Bill.com Holdings.
ZoomInfo Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $54.20, implying a 49.4% upside from current levels. In a report issued on September 17, J.P. Morgan also upgraded the stock to Buy with a $50.00 price target.
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