Analysts’ Top Technology Picks: Qualcomm (QCOM), Qorvo (QRVO)

By Carrie Williams

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Qualcomm (QCOMResearch Report), Qorvo (QRVOResearch Report) and ServiceNow (NOWResearch Report) with bullish sentiments.

Qualcomm (QCOM)

Deutsche Bank analyst Ross Seymore maintained a Buy rating on Qualcomm yesterday and set a price target of $115.00. The company’s shares closed last Wednesday at $93.03, close to its 52-week high of $96.17.

According to TipRanks.com, Seymore is a top 100 analyst with an average return of 26.8% and a 81.5% success rate. Seymore covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Power Integrations.

Qualcomm has an analyst consensus of Moderate Buy, with a price target consensus of $108.46, implying a 17.8% upside from current levels. In a report issued on July 14, Cowen & Co. also maintained a Buy rating on the stock with a $115.00 price target.

See today’s analyst top recommended stocks >>

Qorvo (QRVO)

Oppenheimer analyst Rick Schafer upgraded Qorvo to Buy today and set a price target of $150.00. The company’s shares closed last Wednesday at $115.28, close to its 52-week high of $122.37.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 18.7% and a 76.4% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.

Currently, the analyst consensus on Qorvo is a Strong Buy with an average price target of $126.75, which is a 10.7% upside from current levels. In a report issued on July 17, Piper Sandler also maintained a Buy rating on the stock with a $130.00 price target.

ServiceNow (NOW)

Needham analyst Jack Andrews maintained a Buy rating on ServiceNow today and set a price target of $490.00. The company’s shares closed last Wednesday at $445.71, close to its 52-week high of $454.70.

According to TipRanks.com, Andrews is a 5-star analyst with an average return of 25.1% and a 69.5% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and New Relic.

Currently, the analyst consensus on ServiceNow is a Strong Buy with an average price target of $466.50, a 5.4% upside from current levels. In a report issued on July 15, RBC Capital also maintained a Buy rating on the stock with a $500.00 price target.

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