Analysts Offer Insights on Technology Companies: Mercadolibre (NASDAQ: MELI), Broadcom (NASDAQ: AVGO) and Ambarella (NASDAQ: AMBA)

Analysts have been eager to weigh in on the Technology sector with new ratings on Mercadolibre (MELIResearch Report), Broadcom (AVGOResearch Report) and Ambarella (AMBAResearch Report).

Mercadolibre (MELI)

Mercadolibre received a Hold rating and a $1800.00 price target from Stifel Nicolaus analyst Scott Devitt today. The company’s shares closed last Monday at $1713.28.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 36.9% and a 71.6% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mercadolibre with a $2007.08 average price target.

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Broadcom (AVGO)

Susquehanna analyst Christopher Rolland reiterated a Buy rating on Broadcom today and set a price target of $540.00. The company’s shares closed last Monday at $489.58, close to its 52-week high of $495.14.

According to TipRanks.com, Rolland is a top 100 analyst with an average return of 23.3% and a 75.5% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Raytheon Technologies, and NXP Semiconductors.

Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $493.63, implying a 2.9% upside from current levels. In a report issued on February 25, Oppenheimer also maintained a Buy rating on the stock with a $575.00 price target.

Ambarella (AMBA)

In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Ambarella, with a price target of $115.00. The company’s shares closed last Monday at $118.80, close to its 52-week high of $128.93.

According to TipRanks.com, Cassidy is a 5-star analyst with an average return of 28.0% and a 72.3% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Skyworks Solutions, and ON Semiconductor.

Currently, the analyst consensus on Ambarella is a Strong Buy with an average price target of $117.17, implying a -0.2% downside from current levels. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $125.00 price target.

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