There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Box (BOX) and Shopify (SHOP) with bullish sentiments.
Box (BOX)
Oppenheimer analyst Ittai Kidron maintained a Buy rating on Box today and set a price target of $16.00. The company’s shares closed last Thursday at $14.71.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 28.4% and a 68.4% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.
Box has an analyst consensus of Moderate Buy, with a price target consensus of $16.67, implying a 19.1% upside from current levels. In a report issued on March 25, Morgan Stanley also upgraded the stock to Buy with a $16.00 price target.
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Shopify (SHOP)
In a report released yesterday, David Hynes from Canaccord Genuity maintained a Buy rating on Shopify, with a price target of $600.00. The company’s shares closed last Thursday at $346.30.
According to TipRanks.com, Hynes is a top 25 analyst with an average return of 28.7% and a 69.6% success rate. Hynes covers the Technology sector, focusing on stocks such as Veeva Systems, SharpSpring, and Everbridge.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $483.68 average price target, which is a 38.2% upside from current levels. In a report issued on March 23, KeyBanc also maintained a Buy rating on the stock with a $500.00 price target.
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