Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Proofpoint (PFPT), Verizon (VZ) and Open Text (OTEX).
Proofpoint (PFPT)
In a report issued on July 21, Matthew Hedberg from RBC Capital maintained a Buy rating on Proofpoint, with a price target of $146.00. The company’s shares closed last Thursday at $122.74.
According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 26.4% and a 78.3% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and CrowdStrike Holdings.
Currently, the analyst consensus on Proofpoint is a Strong Buy with an average price target of $144.08.
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Verizon (VZ)
RBC Capital analyst Jonathan Atkin maintained a Hold rating on Verizon on July 21 and set a price target of $57.00. The company’s shares closed last Thursday at $55.49.
According to TipRanks.com, Atkin is a top 25 analyst with an average return of 19.5% and a 83.0% success rate. Atkin covers the Technology sector, focusing on stocks such as GDS Holdings, Wideopenwest, and CenturyLink.
Currently, the analyst consensus on Verizon is a Moderate Buy with an average price target of $60.67, an 8.7% upside from current levels. In a report issued on July 14, Nomura also maintained a Hold rating on the stock with a $61.00 price target.
Open Text (OTEX)
In a report issued on July 21, Paul Treiber from RBC Capital maintained a Buy rating on Open Text, with a price target of $48.00. The company’s shares closed last Thursday at $45.05, close to its 52-week high of $47.85.
According to TipRanks.com, Treiber is a 5-star analyst with an average return of 22.8% and a 76.9% success rate. Treiber covers the Technology sector, focusing on stocks such as Enghouse Systems, Sierra Wireless, and BlackBerry.
Open Text has an analyst consensus of Strong Buy, with a price target consensus of $43.98, implying a -2.3% downside from current levels. In a report issued on July 20, Barclays also maintained a Buy rating on the stock with a $50.00 price target.
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