Analysts Offer Insights on Technology Companies: TrueCar (NASDAQ: TRUE), VMware (NYSE: VMW) and Nuance Communications (NASDAQ: NUAN)

By Jason Carr

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on TrueCar (NASDAQ: TRUE), VMware (NYSE: VMW) and Nuance Communications (NASDAQ: NUAN) with bullish sentiments.

TrueCar (NASDAQ: TRUE)

Craig-Hallum analyst Steven Dyer reiterated a Buy rating on TrueCar (NASDAQ: TRUE) yesterday and set a price target of $23. The company’s shares closed yesterday at $17.80, close to its 52-week high of $18.76.

According to TipRanks.com, Dyer is a 4-star analyst with an average return of 10.2% and a 51.7% success rate. Dyer covers the Consumer Goods sector, focusing on stocks such as Motorcar Parts Of America, Wabash National Corp, and Douglas Dynamics.

Currently, the analyst consensus on TrueCar is Strong Buy and the average price target is $20.25, representing a 13.8% upside.

In a report issued on May 5, RBC Capital also reiterated a Buy rating on the stock with a $19 price target.
VMware (NYSE: VMW)

In a report issued on May 9, John Difucci from Jefferies reiterated a Buy rating on VMware (NYSE: VMW), with a price target of $105. The company’s shares closed yesterday at $94.15, close to its 52-week high of $95.17.

According to TipRanks.com, Difucci is a top 100 analyst with an average return of 16.6% and a 70.9% success rate. Difucci covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Palo Alto Networks, and CommVault Systems.

VMware has an analyst consensus of Moderate Buy, with a price target consensus of $99.80.

Nuance Communications (NASDAQ: NUAN)

Canaccord Genuity analyst David Hynes reiterated a Buy rating on Nuance Communications (NASDAQ: NUAN) yesterday and set a price target of $22. The company’s shares closed yesterday at $19.57, close to its 52-week high of $19.93.

According to TipRanks.com, Hynes is a top 100 analyst with an average return of 28.3% and a 71.3% success rate. Hynes covers the Technology sector, focusing on stocks such as Ultimate Software, Top Image Systems, and Aspen Technology.

Currently, the analyst consensus on Nuance Communications is Moderate Buy and the average price target is $24, representing a 22.6% upside.

In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $26 price target.

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