Analysts Offer Insights on Technology Companies: Nuance Communications (NASDAQ: NUAN) and Salesforce.com (NYSE: CRM)

By Jason Carr

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Nuance Communications (NASDAQ: NUAN) and Salesforce.com (NYSE: CRM) with bullish sentiments.

Nuance Communications (NASDAQ: NUAN)

Canaccord Genuity analyst David Hynes reiterated a Buy rating on Nuance Communications (NASDAQ: NUAN) yesterday and set a price target of $20. The company’s shares opened today at $16.67.

According to TipRanks.com, Hynes is a top 100 analyst with an average return of 30.1% and a 71.8% success rate. Hynes covers the Technology sector, focusing on stocks such as Ultimate Software, Top Image Systems, and Aspen Technology.

Currently, the analyst consensus on Nuance Communications is Strong Buy and the average price target is $21.50, representing a 29.0% upside.

In a report released today, Oppenheimer also reiterated a Buy rating on the stock with a $26 price target.
Salesforce.com (NYSE: CRM)

Canaccord Genuity analyst Richard Davis reiterated a Buy rating on Salesforce.com (NYSE: CRM) yesterday and set a price target of $95. The company’s shares opened today at $79.57, close to its 52-week high of $84.48.

According to TipRanks.com, Davis is a top 100 analyst with an average return of 9.4% and a 60.7% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.

Currently, the analyst consensus on Salesforce.com is Strong Buy and the average price target is $93.56, representing a 17.6% upside.

In a report issued on November 11, Barclays also reiterated a Buy rating on the stock with a $89 price target.