There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Shopify (SHOP) and Microsoft (MSFT) with bullish sentiments.
Shopify (SHOP)
In a report released yesterday, Mark Mahaney from RBC Capital maintained a Buy rating on Shopify, with a price target of $650.00. The company’s shares closed last Thursday at $340.69.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 6.8% and a 46.9% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Trade Desk.
Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $522.12, implying a 49.2% 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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Microsoft (MSFT)
In a report released yesterday, Alex Zukin from RBC Capital maintained a Buy rating on Microsoft, with a price target of $200.00. The company’s shares closed last Thursday at $151.41.
According to TipRanks.com, Zukin is a top 100 analyst with an average return of 17.7% and a 62.9% success rate. Zukin covers the Technology sector, focusing on stocks such as Zoom Video Communications, Cornerstone Ondemand, and Ceridian HCM Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microsoft with a $194.79 average price target, implying a 28.3% upside from current levels. In a report issued on March 17, Deutsche Bank also maintained a Buy rating on the stock with a $180.00 price target.
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