Analysts Conflicted on These Technology Names: Autodesk (NASDAQ: ADSK) and New Relic (NYSE: NEWR)

By Ryan Adsit

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Autodesk (ADSKResearch Report) and New Relic (NEWRResearch Report).

Autodesk (ADSK)

In a report issued on February 28, Saket Kalia from Barclays maintained a Buy rating on Autodesk, with a price target of $230.00. The company’s shares closed last Monday at $190.88.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 8.2% and a 52.8% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, Ping Identity Holding, and CyberArk Software.

Currently, the analyst consensus on Autodesk is a Moderate Buy with an average price target of $213.71, a 21.0% upside from current levels. In a report issued on February 19, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $250.00 price target.

See today’s analyst top recommended stocks >>

New Relic (NEWR)

In a report issued on February 28, Raimo Lenschow from Barclays maintained a Sell rating on New Relic, with a price target of $54.00. The company’s shares closed last Monday at $56.26, close to its 52-week low of $50.00.

According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 19.2% and a 73.2% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Slack Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Relic with a $81.80 average price target.

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