Analysts Are Bullish on Top Technology Stocks: Veeva Systems (VEEV), Phreesia (PHR)

By Ryan Adsit

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Veeva Systems (VEEVResearch Report), Phreesia (PHRResearch Report) and Ciena (CIENResearch Report) with bullish sentiments.

Veeva Systems (VEEV)

In a report released yesterday, Brian Peterson from Raymond James maintained a Buy rating on Veeva Systems. The company’s shares closed last Tuesday at $249.43.

According to TipRanks.com, Peterson is a top 100 analyst with an average return of 31.6% and a 70.6% success rate. Peterson covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Qualtrics International, and ZoomInfo Technologies.

Veeva Systems has an analyst consensus of Strong Buy, with a price target consensus of $327.67.

See today’s analyst top recommended stocks >>

Phreesia (PHR)

Raymond James analyst John Ransom maintained a Buy rating on Phreesia yesterday. The company’s shares closed last Tuesday at $52.16.

According to TipRanks.com, Ransom is a 5-star analyst with an average return of 14.6% and a 64.5% success rate. Ransom covers the Healthcare sector, focusing on stocks such as AmerisourceBergen, Oak Street Health, and Acadia Healthcare.

Currently, the analyst consensus on Phreesia is a Moderate Buy with an average price target of $70.00, a 38.6% upside from current levels. In a report released today, Needham also reiterated a Buy rating on the stock with a $70.00 price target.

Ciena (CIEN)

In a report released today, Simon Leopold from Raymond James maintained a Buy rating on Ciena. The company’s shares closed last Tuesday at $54.71.

According to TipRanks.com, Leopold is a 4-star analyst with an average return of 9.8% and a 61.1% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and Applied Optoelectronics.

Ciena has an analyst consensus of Strong Buy, with a price target consensus of $59.17.

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