There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Qorvo (QRVO), TechTarget (TTGT) and Rapid7 (RPD) with bullish sentiments.
Qorvo (QRVO)
Raymond James analyst Chris Caso reiterated a Buy rating on Qorvo yesterday and set a price target of $160.00. The company’s shares closed last Wednesday at $133.74, close to its 52-week high of $140.69.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 15.0% and a 58.8% success rate. Caso covers the Technology sector, focusing on stocks such as SiTime Corporation, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Qorvo is a Strong Buy with an average price target of $159.40, which is a 22.0% upside from current levels. In a report issued on October 20, Goldman Sachs also maintained a Buy rating on the stock with a $171.00 price target.
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TechTarget (TTGT)
In a report released yesterday, Aaron Kessler from Raymond James initiated coverage with a Buy rating on TechTarget and a price target of $48.00. The company’s shares closed last Wednesday at $45.17.
According to TipRanks.com, Kessler is a top 25 analyst with an average return of 24.9% and a 74.5% success rate. Kessler covers the Technology sector, focusing on stocks such as Uber Technologies, Alphabet Class C, and GoodRx Holdings.
Currently, the analyst consensus on TechTarget is a Moderate Buy with an average price target of $45.50.
Rapid7 (RPD)
In a report released today, Adam Tindle from Raymond James reiterated a Buy rating on Rapid7, with a price target of $72.00. The company’s shares closed last Wednesday at $66.29, close to its 52-week high of $67.76.
According to TipRanks.com, Tindle has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.4% and a 40.5% success rate. Tindle covers the Technology sector, focusing on stocks such as Insight Enterprises, Motorola Solutions, and Arrow Electronics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rapid7 with a $74.11 average price target, which is a 14.7% upside from current levels. In a report issued on October 29, RBC Capital also maintained a Buy rating on the stock with a $70.00 price target.
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