Wall Street Analysts Are Bullish on Top Technology Picks

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Autodesk (ADSK) and Rackspace Technology (RXT) with bullish sentiments.

Autodesk (ADSK)

RBC Capital analyst Matthew Hedberg maintained a Buy rating on Autodesk on February 19 and set a price target of $340.00. The company’s shares closed last Friday at $305.40, close to its 52-week high of $321.13.

According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 41.7% and a 80.7% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and Ping Identity Holding.

Currently, the analyst consensus on Autodesk is a Strong Buy with an average price target of $330.80, implying a 9.6% upside from current levels. In a report issued on February 9, Stifel Nicolaus also maintained a Buy rating on the stock with a $342.00 price target.

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Rackspace Technology (RXT)

RBC Capital analyst Daniel Perlin maintained a Buy rating on Rackspace Technology on February 18 and set a price target of $29.00. The company’s shares closed last Friday at $20.93.

According to TipRanks.com, Perlin is a top 100 analyst with an average return of 31.6% and a 78.2% success rate. Perlin covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Jack Henry & Associates.

Currently, the analyst consensus on Rackspace Technology is a Strong Buy with an average price target of $27.20, implying a 23.4% upside from current levels. In a report issued on February 18, Oppenheimer also assigned a Buy rating to the stock with a $28.00 price target.

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