Analysts Offer Insights on Technology Companies: NeoPhotonics (NYSE: NPTN), Veeco (NASDAQ: VECO) and New Relic (NYSE: NEWR)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on NeoPhotonics (NPTNResearch Report), Veeco (VECOResearch Report) and New Relic (NEWRResearch Report) with bullish sentiments.

NeoPhotonics (NPTN)

Needham analyst Alex Henderson assigned a Buy rating to NeoPhotonics today and set a price target of $15.00. The company’s shares closed last Tuesday at $8.90.

According to TipRanks.com, Henderson is a top 100 analyst with an average return of 29.8% and a 70.8% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.

Currently, the analyst consensus on NeoPhotonics is a Strong Buy with an average price target of $13.33, implying a 45.7% upside from current levels. In a report issued on August 2, B.Riley Financial also maintained a Buy rating on the stock with a $13.00 price target.

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Veeco (VECO)

Benchmark Co. analyst Mark Miller maintained a Buy rating on Veeco today and set a price target of $28.00. The company’s shares closed last Tuesday at $23.21, close to its 52-week high of $25.70.

According to TipRanks.com, Miller is a top 100 analyst with an average return of 24.2% and a 66.7% success rate. Miller covers the Technology sector, focusing on stocks such as Axcelis Technologies, MKS Instruments, and Western Digital.

Currently, the analyst consensus on Veeco is a Strong Buy with an average price target of $28.40, representing a 22.4% upside. In a report issued on August 2, Stifel Nicolaus also reiterated a Buy rating on the stock with a $26.00 price target.

New Relic (NEWR)

In a report released today, Jack Andrews from Needham assigned a Buy rating to New Relic, with a price target of $84.00. The company’s shares closed last Tuesday at $68.32.

According to TipRanks.com, Andrews is a 5-star analyst with an average return of 25.6% and a 65.5% success rate. Andrews covers the Technology sector, focusing on stocks such as CommVault Systems, LiveRamp Holdings, and Pegasystems.

Currently, the analyst consensus on New Relic is a Hold with an average price target of $65.00.

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