There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Confluent (CFLT – Research Report), Trade Desk (TTD – Research Report) and Advanced Micro Devices (AMD – Research Report) with bullish sentiments.
Confluent (CFLT)
In a report released today, Mike Cikos from Needham maintained a Buy rating on Confluent, with a price target of $45.00. The company’s shares closed last Friday at $36.38, close to its 52-week high of $37.40.
According to TipRanks.com, Cikos is a 4-star analyst with an average return of 5.0% and a 53.2% success rate. Cikos covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Tenable Holdings, and Cellebrite DI.
Currently, the analyst consensus on Confluent is a Moderate Buy with an average price target of $30.00, a -15.8% downside from current levels. In a report issued on May 31, Wells Fargo also maintained a Buy rating on the stock with a $35.00 price target.
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Trade Desk (TTD)
In a report released today, Laura Martin from Needham reiterated a Buy rating on Trade Desk, with a price target of $80.00. The company’s shares closed last Friday at $74.58, close to its 52-week high of $78.60.
According to TipRanks.com, Martin is a 1-star analyst with an average return of -1.7% and a 42.9% success rate. Martin covers the Technology sector, focusing on stocks such as DoubleVerify Holdings, Tremor International, and AdTheorent Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Trade Desk with a $76.54 average price target, implying a 2.3% upside from current levels. In a report issued on June 1, Morgan Stanley also upgraded the stock to Buy with a $90.00 price target.
Advanced Micro Devices (AMD)
In a report released today, Hans Mosesmann from Rosenblatt Securities reiterated a Buy rating on Advanced Micro Devices, with a price target of $200.00. The company’s shares closed last Friday at $124.92, close to its 52-week high of $130.79.
According to TipRanks.com, Mosesmann is a top 25 analyst with an average return of 26.2% and a 68.0% success rate. Mosesmann covers the Technology sector, focusing on stocks such as Super Micro Computer, Texas Instruments, and Monolithic Power.
Advanced Micro Devices has an analyst consensus of Moderate Buy, with a price target consensus of $112.52, which is a -8.9% downside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $150.00 price target.
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