Analysts Offer Insights on Technology Companies: iPass (NASDAQ: IPAS), Autodesk (NASDAQ: ADSK) and Wix.com Ltd (NASDAQ: WIX)

By Austin Angelo

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on iPass (IPASResearch Report), Autodesk (ADSKResearch Report) and Wix.com Ltd (WIXResearch Report).

iPass (IPAS)

In a report issued on November 13, Victor Anthony from Aegis Capital maintained a Hold rating on iPass, with a price target of $1.40. The company’s shares closed yesterday at $1.97, close to its 52-week low of $1.10.

Anthony said:

“We downgrade the shares of iPass from the announced acquisition by Pareteum Corp (TEUM, NR), a cloud software company. The deal is structured as an all-stock transaction in which iPass shareholders will receive 1.17 shares of Pareteum for each share of iPass. We do not foresee a competing offer so we assume the transaction will close.2 AEGIS CAPITAL CORP. We value IPAS stock at $1.40 per share.”

According to TipRanks.com, Anthony is a top 100 analyst with an average return of 15.7% and a 64.3% success rate. Anthony covers the Services sector, focusing on stocks such as Qurate Retail Group Inc, comScore, and Cimpress.

Currently, the analyst consensus on iPass is a Hold with an average price target of $1.40, representing a -28.9% downside. In a report released yesterday, Maxim Group also downgraded the stock to Hold.

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Autodesk (ADSK)

In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Buy rating on Autodesk, with a price target of $175. The company’s shares closed yesterday at $129.43.

Talanian said:

“We believe this report should be viewed as mixed for ADSK given the m/m decline in the overall index with notable weather-related regional differences (see a quote from AIA Chief Economist below). As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~38% of revenue coming from its Construction segment in F18.”

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 12.5% and a 63.0% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.

Autodesk has an analyst consensus of Strong Buy, with a price target consensus of $161.

Wix.com Ltd (WIX)

Rosenblatt Securities analyst Mark Zgutowicz maintained a Hold rating on Wix.com Ltd yesterday and set a price target of $75. The company’s shares closed yesterday at $89.35.

Zgutowicz noted:

“We remain on the sidelines with our thesis that the model lacks business scale at pre- sent conversion levels, and Wix Code’s niche market appeal will limit anticipated con- version benefit. Further, moderating 3Q18E conversion growth, albeit modestly, q/q and y/y to (our est.) 3.5%, does not help alleviate these concerns and presents a steeper climb to a 4%+ conversion threshold necessary to mitigate mentioned scale challenges. We adjust CY19E premium subscriber growth, ARPS, and subsequently revenue growth modestly lower, as detailed below. Our DCF-based PT is reduced from $78 to $75; reiterate Neutral rating on the shares.”

According to TipRanks.com, Zgutowicz is ranked #3764 out of 4891 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wix.com Ltd with a $114.40 average price target, implying a 28.0% upside from current levels. In a report released yesterday, J.P. Morgan also maintained a Hold rating on the stock with a $100 price target.

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