There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Allscripts (MDRX) and New Relic (NEWR) with bullish sentiments.
Allscripts (MDRX)
Canaccord Genuity analyst Richard Close maintained a Buy rating on Allscripts yesterday and set a price target of $13.00. The company’s shares closed last Tuesday at $8.31.
According to TipRanks.com, Close is a top 100 analyst with an average return of 27.9% and a 62.9% success rate. Close covers the Technology sector, focusing on stocks such as Castlight Health, Livongo Health, and HealthStream.
Currently, the analyst consensus on Allscripts is a Hold with an average price target of $9.55.
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New Relic (NEWR)
In a report released today, Jack Andrews from Needham reiterated a Buy rating on New Relic, with a price target of $77.00. The company’s shares closed last Tuesday at $64.34.
According to TipRanks.com, Andrews is a top 100 analyst with an average return of 28.8% and a 72.1% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
The word on The Street in general, suggests a Hold analyst consensus rating for New Relic with a $68.36 average price target, representing a 6.0% upside. In a report issued on October 7, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $85.00 price target.
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