Analysts Have Conflicting Sentiments on These Technology Companies: ChannelAdvisor (NYSE: ECOM) and Ansys (NASDAQ: ANSS)

By Austin Angelo

Analysts have been eager to weigh in on the Technology sector with new ratings on ChannelAdvisor (NYSE: ECOM) and Ansys (NASDAQ: ANSS).

ChannelAdvisor (NYSE: ECOM)

In a report issued on September 15, Scott Berg from Needham reiterated a Buy rating on ChannelAdvisor (NYSE: ECOM), with a price target of $18. The company’s shares closed on Friday at $11.55.

According to TipRanks.com, Berg is a 4-star analyst with an average return of 9.1% and a 59.3% success rate. Berg covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Medidata Solutions, and Tyler Technologies.

Currently, the analyst consensus on ChannelAdvisor is Moderate Buy and the average price target is $14.50, representing a 25.5% upside.

In a report issued on August 31, First Analysis also upgraded the stock to Buy with a $13 price target.
Ansys (NASDAQ: ANSS)

In a report issued on September 15, Richard Valera from Needham reiterated a Hold rating on Ansys (NASDAQ: ANSS). The company’s shares closed on Friday at $121.82.

According to TipRanks.com, Valera is a 4-star analyst with an average return of 6.6% and a 60.8% success rate. Valera covers the Consumer Goods sector, focusing on stocks such as Trimble Navigation Limited, Audiocodes Ltd, and Aviat Networks.

Currently, the analyst consensus on Ansys is Hold and the average price target is $120.17, representing a -1.4% downside.

In a report issued on September 10, RBC Capital also reiterated a Hold rating on the stock with a $118 price target.

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