Analysts Offer Insights on Technology Companies: Cerence (NASDAQ: CRNC) and Progress Software (NASDAQ: PRGS)

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Cerence (CRNCResearch Report) and Progress Software (PRGSResearch Report) with bullish sentiments.

Cerence (CRNC)

Needham analyst Rajvindra Gill assigned a Buy rating to Cerence today and set a price target of $120.00. The company’s shares closed last Thursday at $113.98, close to its 52-week high of $115.14.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.3% and a 65.2% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cerence with a $100.56 average price target, representing a -3.6% downside. In a report issued on January 12, Jefferies also maintained a Buy rating on the stock with a $122.00 price target.

See today’s analyst top recommended stocks >>

Progress Software (PRGS)

Wedbush analyst Daniel Ives maintained a Buy rating on Progress Software today and set a price target of $55.00. The company’s shares closed last Thursday at $48.81, close to its 52-week high of $52.50.

According to TipRanks.com, Ives is a top 100 analyst with an average return of 35.1% and a 76.1% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.

Currently, the analyst consensus on Progress Software is a Moderate Buy with an average price target of $55.00.

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