Analysts Offer Insights on Technology Companies: Facebook Inc (NASDAQ: FB) and Qualcomm Inc (NASDAQ: QCOM)By Ryan Adsit
There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Facebook Inc (NASDAQ: FB) and Qualcomm Inc (NASDAQ: QCOM) with bullish sentiments.
Facebook Inc (NASDAQ: FB)
“Facebook concluded the second of two keynote speeches at the F8 developer conference. Both focused on the company’s vision for future augmented reality products, with a secondary focus on Messenger. Today, most mobile content, experiences and services are delivered through applications, supported by an app store (on iOS or Android). However, the largest contextual platforms want to disintermediate the traditional application ecosystem, in our view. We define a “contextual platform” as an application that uses real-time input from the user to delivery relevant content, experiences and services. For example, FB is offering content during a “Facebook Camera” session based on external data that FB thinks is relevant to the user.”
According to TipRanks.com, Helfstein is a 5-star analyst with an average return of 8.9% and a 58.9% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, Interxion Holding NV, and IAC/InterActiveCorp.
Currently, the analyst consensus on Facebook Inc is Strong Buy and the average price target is $162.69, representing a 14.4% upside.
In a report issued on April 13, Piper Jaffray also reiterated a Buy rating on the stock with a $160 price target.
Qualcomm Inc (NASDAQ: QCOM)
In a report released yesterday, Michael Walkley from Canaccord Genuity reiterated a Buy rating on Qualcomm Inc (NASDAQ: QCOM), with a price target of $75. The company’s shares closed yesterday at $52.61.
According to TipRanks.com, Walkley is a top 25 analyst with an average return of 19.4% and a 65.9% success rate. Walkley covers the Technology sector, focusing on stocks such as Sequans Communications S A, Digi International Inc, and Powerwave Technologies.
Currently, the analyst consensus on Qualcomm Inc is Moderate Buy and the average price target is $68.22, representing a 29.7% upside.
In a report issued on April 9, Mizuho Securities also reiterated a Buy rating on the stock with a $75 price target.
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