There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on 8X8 (EGHT), Okta (OKTA) and CarGurus (CARG) with bullish sentiments.
8X8 (EGHT)
In a report released yesterday, Matthew VanVliet from BTIG maintained a Buy rating on 8X8, with a price target of $44.00. The company’s shares closed last Wednesday at $23.74.
According to TipRanks.com, VanVliet is a 4-star analyst with an average return of 14.0% and a 51.9% success rate. VanVliet covers the Technology sector, focusing on stocks such as Tyler Technologies, Bill.com Holdings, and Sprout Social.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 8X8 with a $37.73 average price target, representing a 60.3% upside. In a report issued on May 11, Stephens also assigned a Buy rating to the stock with a $40.00 price target.
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Okta (OKTA)
In a report released today, Gray Powell from BTIG maintained a Buy rating on Okta, with a price target of $280.00. The company’s shares closed last Wednesday at $246.53.
According to TipRanks.com, Powell is a 4-star analyst with an average return of 16.8% and a 63.8% success rate. Powell covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Okta with a $277.57 average price target, implying a 12.8% upside from current levels. In a report issued on May 23, RBC Capital also maintained a Buy rating on the stock with a $300.00 price target.
CarGurus (CARG)
In a report released today, Marvin Fong from BTIG maintained a Buy rating on CarGurus, with a price target of $35.00. The company’s shares closed last Wednesday at $28.00.
According to TipRanks.com, Fong is a 5-star analyst with an average return of 32.6% and a 57.7% success rate. Fong covers the Technology sector, focusing on stocks such as Mercadolibre, Leaf Group, and Farfetch.
CarGurus has an analyst consensus of Moderate Buy, with a price target consensus of $32.80, representing a 17.8% upside. In a report issued on May 21, Oppenheimer also assigned a Buy rating to the stock with a $38.00 price target.
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