There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Synaptics (SYNA), Paylocity (PCTY) and MTBC (MTBC) with bullish sentiments.
Synaptics (SYNA)
In a report released today, Martin Yang from Oppenheimer maintained a Buy rating on Synaptics, with a price target of $155.00. The company’s shares closed last Thursday at $133.30, close to its 52-week high of $146.93.
According to TipRanks.com, Yang is a 3-star analyst with an average return of 11.3% and a 51.2% success rate. Yang covers the Technology sector, focusing on stocks such as Sonim Technologies, Universal Display, and QuickLogic.
Currently, the analyst consensus on Synaptics is a Strong Buy with an average price target of $167.00, a 24.7% upside from current levels. In a report issued on April 27, Cowen & Co. also upgraded the stock to Buy with a $176.00 price target.
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Paylocity (PCTY)
Needham analyst Scott Berg reiterated a Buy rating on Paylocity today and set a price target of $260.00. The company’s shares closed last Thursday at $171.07.
According to TipRanks.com, Berg is a top 100 analyst with an average return of 27.9% and a 67.4% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings.
Paylocity has an analyst consensus of Moderate Buy, with a price target consensus of $230.00.
MTBC (MTBC)
In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on MTBC, with a price target of $14.00. The company’s shares closed last Thursday at $7.96.
According to TipRanks.com, Dede is a 4-star analyst with an average return of 17.5% and a 42.4% success rate. Dede covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, Magic Software Enterprises, and Voyager Digital (Canada).
Currently, the analyst consensus on MTBC is a Strong Buy with an average price target of $16.70.
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