Analysts Offer Insights on Technology Companies: AXT (NASDAQ: AXTI), Super Micro Computer (NASDAQ: SMCI) and RingCentral (NYSE: RNG)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on AXT (AXTIResearch Report), Super Micro Computer (SMCIResearch Report) and RingCentral (RNGResearch Report) with bullish sentiments.

AXT (AXTI)

In a report released today, Gus Richard from Northland Securities maintained a Buy rating on AXT, with a price target of $15.00. The company’s shares closed last Tuesday at $10.38.

According to TipRanks.com, Richard is a top 100 analyst with an average return of 34.5% and a 72.7% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Enphase Energy.

Currently, the analyst consensus on AXT is a Moderate Buy with an average price target of $16.00.

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Super Micro Computer (SMCI)

In a report released today, Nehal Chokshi from Northland Securities reiterated a Buy rating on Super Micro Computer, with a price target of $50.00. The company’s shares closed last Tuesday at $35.21.

According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 23.0% and a 63.8% success rate. Chokshi covers the Technology sector, focusing on stocks such as Palo Alto Networks, Avid Technology, and PROS Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Super Micro Computer with a $48.00 average price target.

RingCentral (RNG)

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on RingCentral, with a price target of $450.00. The company’s shares closed last Tuesday at $253.00, close to its 52-week low of $229.00.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 29.2% and a 57.2% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.

Currently, the analyst consensus on RingCentral is a Strong Buy with an average price target of $421.07, representing a 60.7% upside. In a report issued on May 20, Mizuho Securities also maintained a Buy rating on the stock with a $400.00 price target.

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