There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on RingCentral (RNG) and Maxlinear (MXL) with bullish sentiments.
RingCentral (RNG)
In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on RingCentral, with a price target of $320.00. The company’s shares closed last Monday at $305.36, close to its 52-week high of $306.46.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 19.7% and a 58.6% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RingCentral with a $317.35 average price target, an 8.5% upside from current levels. In a report issued on July 24, Wolfe Research also initiated coverage with a Buy rating on the stock with a $325.00 price target.
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Maxlinear (MXL)
Northland Securities analyst Tim Savageaux maintained a Buy rating on Maxlinear today and set a price target of $32.50. The company’s shares closed last Monday at $27.75, close to its 52-week high of $28.36.
According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 11.1% and a 60.0% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
Currently, the analyst consensus on Maxlinear is a Moderate Buy with an average price target of $31.95, representing a 21.4% upside. In a report issued on July 24, Roth Capital also upgraded the stock to Buy with a $30.00 price target.
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