Analysts Offer Insights on Technology Companies: Mimecast Ltd (NASDAQ: MIME), RingCentral (NYSE: RNG) and Intuit (NASDAQ: INTU)

By Carrie Williams

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Mimecast Ltd (NASDAQ: MIME), RingCentral (NYSE: RNG) and Intuit (NASDAQ: INTU).

Mimecast Ltd (NASDAQ: MIME)

In a report released today, Saket Kalia from Barclays maintained a Buy rating on Mimecast Ltd (NASDAQ: MIME), with a price target of $36. The company’s shares closed yesterday at $33.22, close to its 52-week high of $33.38.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 9.8% and a 52.3% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, SecureWorks Corp, and Varonis Systems.

Currently, the analyst consensus on Mimecast Ltd is Strong Buy and the average price target is $37.40, representing a 12.6% upside.

In a report released today, BMO Capital also reiterated a Buy rating on the stock with a $38 price target.
RingCentral (NYSE: RNG)

In a report released today, Sterling Auty from J.P. Morgan maintained a Hold rating on RingCentral (NYSE: RNG), with a price target of $60. The company’s shares closed yesterday at $53.35, close to its 52-week high of $56.15.

According to TipRanks.com, Auty is a 5-star analyst with an average return of 16.2% and a 67.0% success rate. Auty covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Forescout Technologies Inc, and CSG Systems International.

RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $62.20.

Intuit (NASDAQ: INTU)

Barclays analyst Raimo Lenschow maintained a Hold rating on Intuit (NASDAQ: INTU) today and set a price target of $168. The company’s shares closed yesterday at $159.38.

According to TipRanks.com, Lenschow is a 5-star analyst with an average return of 14.9% and a 70.6% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Coupa Software Inc, and Informatica Corp.

Currently, the analyst consensus on Intuit is Moderate Buy and the average price target is $172.73, representing an 8.4% upside.

In a report issued on January 29, Citigroup also maintained a Hold rating on the stock with a $170 price target.

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