Analysts Offer Insights on Technology Companies: Workday (NYSE: WDAY), Analog Devices (NASDAQ: ADI) and Yelp (NYSE: YELP)

By Austin Angelo

Analysts have been eager to weigh in on the Technology sector with new ratings on Workday (NYSE: WDAY), Analog Devices (NASDAQ: ADI) and Yelp (NYSE: YELP).

Workday (NYSE: WDAY)

In a report issued on June 2, Michael Nemeroff from Credit Suisse reiterated a Hold rating on Workday (NYSE: WDAY), with a price target of $94. The company’s shares closed last Friday at $104.41, close to its 52-week high of $104.53.

Nemeroff observed:

“We raise our F2018 revenue/EPS ests to $2,050M/$0.68 from $2,023M/$0.52. Risks to our ests incl slowdown in enterprise cloud adoption. Valuation.”

According to TipRanks.com, Nemeroff is a 4-star analyst with an average return of 12.9% and a 55.8% success rate. Nemeroff covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Cornerstone Ondemand, and Verint Systems Inc.

Currently, the analyst consensus on Workday is Moderate Buy and the average price target is $103.47, representing a -0.9% downside.

In a report issued on June 2, BTIG also downgraded the stock to Hold with a $97 price target.
Analog Devices (NASDAQ: ADI)

Credit Suisse analyst John Pitzer reiterated a Buy rating on Analog Devices (NASDAQ: ADI) on May 31 and set a price target of $100. The company’s shares closed last Friday at $80.91.

According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 20.5% and a 72.6% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Rudolph Technologies, and NXP Semiconductors.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $94.96, representing a 17.4% upside.

In a report issued on May 22, Jefferies also reiterated a Buy rating on the stock with a $100 price target.
Yelp (NYSE: YELP)

Credit Suisse analyst Paul Bieber reiterated a Buy rating on Yelp (NYSE: YELP) on May 31 and set a price target of $30. The company’s shares closed last Friday at $28.79, close to its 52-week low of $25.93.

Bieber noted:

“We hosted a meeting with CFO Lanny Baker and Ron Clark (IR) in San Francisco earlier this week. Overall, the tone was upbeat despite recent results with the discussion focused on 1Q churn and efforts to drive user engagement and attribution/transactions for merchants. For the stock, we liked the commentary on product-related engagement drivers and thoughtfulness of Request a Quote (RaQ) testing. Yelp did not provide an intra-quarter update.”

According to TipRanks.com, Bieber is a 1-star analyst with an average return of -7.5% and a 46.4% success rate. Bieber covers the Services sector, focusing on stocks such as Pricelinecom, RetailMeNot, and Wayfair Inc.

Currently, the analyst consensus on Yelp is Moderate Buy and the average price target is $34.67, representing a 20.4% upside.

In a report issued on May 24, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $39 price target.

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