Analysts Offer Insights on Technology Companies: Digi International Inc. (NASDAQ: DGII), SPS Commerce (NASDAQ: SPSC) and Applied Micro Circ. (NASDAQ: AMCC)

By Austin Angelo

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Digi International Inc. (NASDAQ: DGII), SPS Commerce (NASDAQ: SPSC) and Applied Micro Circ. (NASDAQ: AMCC) with bullish sentiments.

Digi International Inc. (NASDAQ: DGII)

In a report released yesterday, Michael Walkley from Canaccord Genuity reiterated a Buy rating on Digi International Inc. (NASDAQ: DGII), with a price target of $17. The company’s shares opened today at $9.70.

Walkley noted:

“We remain impressed with what the Digi management team have delivered in terms of improving EBTIDA margins, reducing SKU count, and transforming the longer-term strategy and business model. Digi recently announced new cellular router and gateway solutions that we anticipate will help this division return to growth in F2017. We also anticipate several new product announcements across its business lines over the coming months should lead to improving 2017 growth trends following a soft Q1/F2017. We maintain our belief Digi is in the early stage of its strategic initiatives to drive improving revenue growth with strong margin leverage potential. With Mr. Konezny helping implement Digi’s improved IoT focus and execution to drive stronger revenue growth with improved EBITDA margins, Digi’s strong product portfolio, solid FQ4 results showing continued improved execution and profitability, and a healthy net cash position of $137.7M, we believe the shares represent an attractive opportunity for longer-term investors.”

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 13.6% and a 57.6% success rate. Walkley covers the Technology sector, focusing on stocks such as Sequans Communications S A, Powerwave Technologies, and Smith Micro Software.

Digi International Inc. has an analyst consensus of Moderate Buy, with a price target consensus of $17.

SPS Commerce (NASDAQ: SPSC)

In a report released yesterday, David Hynes from Canaccord Genuity reiterated a Buy rating on SPS Commerce (NASDAQ: SPSC), with a price target of $77. The company’s shares opened today at $62.87.

According to TipRanks.com, Hynes is a top 100 analyst with an average return of 28.2% and a 72.6% success rate. Hynes covers the Technology sector, focusing on stocks such as Nuance Communications, Ultimate Software, and Top Image Systems.

SPS Commerce has an analyst consensus of Strong Buy, with a price target consensus of $80.

Applied Micro Circ. (NASDAQ: AMCC)

In a report released yesterday, Matt Ramsay from Canaccord Genuity reiterated a Buy rating on Applied Micro Circ. (NASDAQ: AMCC), with a price target of $10. The company’s shares opened today at $7.

According to TipRanks.com, Ramsay is a 5-star analyst with an average return of 9.7% and a 57.6% success rate. Ramsay covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and NXP Semiconductors.

Currently, the analyst consensus on Applied Micro Circ. is Moderate Buy and the average price target is $8.67, representing a 23.9% upside.

In a report released today, Roth Capital also reiterated a Buy rating on the stock with a $8 price target.