There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Avalara (AVLR), Cerner (CERN) and Calix (CALX) with bullish sentiments.
Avalara (AVLR)
In a report released yesterday, David Hynes from Canaccord Genuity maintained a Buy rating on Avalara, with a price target of $205.00. The company’s shares closed last Wednesday at $179.78, close to its 52-week high of $185.37.
According to TipRanks.com, Hynes is a top 25 analyst with an average return of 42.3% and a 82.9% success rate. Hynes covers the Technology sector, focusing on stocks such as Slack Technologies, Bill.com Holdings, and Upland Software.
Currently, the analyst consensus on Avalara is a Strong Buy with an average price target of $203.00, which is a 12.2% upside from current levels. In a report issued on January 27, Piper Sandler also maintained a Buy rating on the stock with a $195.00 price target.
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Cerner (CERN)
Canaccord Genuity analyst Richard Close maintained a Buy rating on Cerner yesterday and set a price target of $89.00. The company’s shares closed last Wednesday at $79.00.
According to TipRanks.com, Close is a 5-star analyst with an average return of 36.1% and a 65.4% success rate. Close covers the Technology sector, focusing on stocks such as Castlight Health, Health Catalyst, and HealthStream.
Currently, the analyst consensus on Cerner is a Hold with an average price target of $80.33.
Calix (CALX)
Needham analyst Richard Valera reiterated a Buy rating on Calix today and set a price target of $38.00. The company’s shares closed last Wednesday at $34.84, close to its 52-week high of $36.94.
According to TipRanks.com, Valera is a top 100 analyst with an average return of 27.1% and a 71.4% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Altair Engineering, and Vonage Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Calix with a $37.40 average price target, representing a 3.9% upside. In a report issued on January 29, Cowen & Co. also maintained a Buy rating on the stock with a $45.00 price target.
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