Analysts Offer Insights on Technology Companies: Workday (NYSE: WDAY) and Broadcom Ltd (NASDAQ: AVGO)

By Austin Angelo

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Workday (NYSE: WDAY) and Broadcom Ltd (NASDAQ: AVGO) with bullish sentiments.

Workday (NYSE: WDAY)

Canaccord Genuity analyst Richard Davis reiterated a Buy rating on Workday (NYSE: WDAY) yesterday and set a price target of $115. The company’s shares closed yesterday at $101.50, close to its 52-week high of $101.61.

According to TipRanks.com, Davis is a top 25 analyst with an average return of 24.6% and a 74.7% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.

Currently, the analyst consensus on Workday is Moderate Buy and the average price target is $98.25, representing a -3.2% downside.

In a report issued on May 23, RBC Capital also reiterated a Buy rating on the stock with a $105 price target.
Broadcom Ltd (NASDAQ: AVGO)

In a report released yesterday, Michael Walkley from Canaccord Genuity reiterated a Buy rating on Broadcom Ltd (NASDAQ: AVGO), with a price target of $272. The company’s shares closed yesterday at $234.59, close to its 52-week high of $242.89.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 21.8% and a 65.8% 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 Broadcom Ltd is Strong Buy and the average price target is $259.33, representing a 10.5% upside.

In a report issued on May 17, Nomura also reiterated a Buy rating on the stock with a $260 price target.

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