There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Kratos Defense (KTOS), Veeva Systems (VEEV) and Salesforce (CRM) with bullish sentiments.
Kratos Defense (KTOS)
In a report released yesterday, Kenneth Herbert from Canaccord Genuity maintained a Buy rating on Kratos Defense, with a price target of $20.00. The company’s shares closed last Thursday at $18.12.
According to TipRanks.com, Herbert is a 5-star analyst with an average return of 15.1% and a 66.1% success rate. Herbert covers the Technology sector, focusing on stocks such as Rada Electronics Industries, Aerojet Rocketdyne Holdings, and Spirit AeroSystems.
Currently, the analyst consensus on Kratos Defense is a Strong Buy with an average price target of $21.50.
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Veeva Systems (VEEV)
Needham analyst Scott Berg assigned a Buy rating to Veeva Systems today and set a price target of $235.00. The company’s shares closed last Thursday at $204.20, close to its 52-week high of $206.90.
According to TipRanks.com, Berg is a top 100 analyst with an average return of 17.9% and a 69.1% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and Tyler Technologies.
Currently, the analyst consensus on Veeva Systems is a Moderate Buy with an average price target of $189.08, a -2.4% downside from current levels. In a report issued on May 22, Morgan Stanley also maintained a Buy rating on the stock with a $226.00 price target.
Salesforce (CRM)
Canaccord Genuity analyst David Hynes maintained a Buy rating on Salesforce today and set a price target of $200.00. The company’s shares closed last Thursday at $181.10.
According to TipRanks.com, Hynes is a top 25 analyst with an average return of 32.5% and a 77.6% success rate. Hynes covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Bill.com Holdings, and Upland Software.
Salesforce has an analyst consensus of Strong Buy, with a price target consensus of $190.75, a 6.0% upside from current levels. In a report issued on May 14, Merrill Lynch also reiterated a Buy rating on the stock with a $210.00 price target.
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