There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Autodesk (ADSK – Research Report) and Verint Systems Inc (VRNT – Research Report) with bullish sentiments.
In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Buy rating on Autodesk, with a price target of $190. The company’s shares closed yesterday at $168.03, close to its 52-week high of $174.40.
“We believe this report should be viewed as a slight negative for ADSK given the dip in the overall index into negative territory, with the new projects index remaining at a high level (see quote from AIA Chief Economist below). As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~38% of revenue coming from its Construction segment in F18.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 22.1% and a 85.0% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Autodesk with a $182.57 average price target, which is an 8.7% upside from current levels. In a report issued on April 11, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $200 price target.
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Verint Systems Inc (VRNT)
Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Verint Systems Inc yesterday and set a price target of $65. The company’s shares closed yesterday at $60.21, close to its 52-week high of $63.94.
“VRNT is down 3% today (4/17/19) on high volume following Israeli online reports (in Ransomware attack on the company. We believe the severity of the event was overstated. Our sources indicate that although VRNT was targeted today by a known vector previously used to target other entities, the company quickly identified and remediated the attack, and operations were not seriously impacted. We do not expect lasting consequences. The same article also referenced share sales by VRNT’s CEO. A review of the related filings indicates that the sales had a de minimis impact on the CEO’s holdings and were related to taxes and the timing of compensation. In our view, today’s pullback is unwarranted, and we remain buyers. $65 price target.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 16.9% and a 69.1% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, CyberArk Software, and Varonis Systems.
Verint Systems Inc has an analyst consensus of Strong Buy, with a price target consensus of $66.17, which is a 9.9% upside from current levels. In a report issued on April 11, J.P. Morgan also maintained a Buy rating on the stock with a $67 price target.
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