There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Varonis Systems (VRNS), Cisco Systems (CSCO) and Lyft (LYFT) with bullish sentiments.
Varonis Systems (VRNS)
In a report released today, Shaul Eyal from Oppenheimer assigned a Buy rating to Varonis Systems, with a price target of $125.00. The company’s shares closed last Wednesday at $116.04, close to its 52-week high of $122.71.
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 22.3% and a 71.6% success rate. Eyal covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Ping Identity Holding.
Varonis Systems has an analyst consensus of Strong Buy, with a price target consensus of $124.93, which is a 9.6% upside from current levels. In a report issued on August 4, Jefferies also maintained a Buy rating on the stock with a $135.00 price target.
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Cisco Systems (CSCO)
Oppenheimer analyst Ittai Kidron maintained a Buy rating on Cisco Systems today and set a price target of $50.00. The company’s shares closed last Wednesday at $48.10.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 33.8% and a 73.2% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.
Currently, the analyst consensus on Cisco Systems is a Moderate Buy with an average price target of $50.44, which is a 6.7% upside from current levels. In a report issued on August 10, Evercore ISI also maintained a Buy rating on the stock with a $54.00 price target.
Lyft (LYFT)
In a report released today, Daniel Ives from Wedbush maintained a Buy rating on Lyft, with a price target of $37.00. The company’s shares closed last Wednesday at $30.52.
According to TipRanks.com, Ives is a 5-star analyst with an average return of 16.5% and a 61.5% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lyft with a $43.13 average price target, implying a 39.2% upside from current levels. In a report issued on August 5, Deutsche Bank also maintained a Buy rating on the stock with a $57.00 price target.
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