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Analysts Conflicted on These Technology Names: New Relic (NEWR), Snap (SNAP) and Zoom Video Communications (ZM)

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on New Relic (NEWRResearch Report), Snap (SNAPResearch Report) and Zoom Video Communications (ZMResearch Report).

New Relic (NEWR)

JMP Securities analyst Erik Suppiger maintained a Hold rating on New Relic today. The company’s shares closed last Monday at $48.13, close to its 52-week low of $41.66.

According to TipRanks.com, Suppiger is a 5-star analyst with an average return of 15.6% and a 49.8% success rate. Suppiger covers the Technology sector, focusing on stocks such as Cambium Networks, Axon Enterprise, and Arista Networks.

New Relic has an analyst consensus of Moderate Buy, with a price target consensus of $66.29, implying a 42.2% upside from current levels. In a report issued on May 13, Needham also downgraded the stock to Hold.

See today’s best-performing stocks on TipRanks >>

Snap (SNAP)

In a report released today, Andrew Boone from JMP Securities maintained a Buy rating on Snap, with a price target of $45.00. The company’s shares closed last Monday at $22.47, close to its 52-week low of $20.95.

According to TipRanks.com, Boone has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -20.5% and a 20.7% success rate. Boone covers the Technology sector, focusing on stocks such as DoubleVerify Holdings, Zillow Group Class A, and Fiverr International.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Snap with a $47.88 average price target, which is a 105.4% upside from current levels. In a report issued on May 17, Wolfe Research also maintained a Buy rating on the stock with a $31.00 price target.

Zoom Video Communications (ZM)

JMP Securities analyst Patrick Walravens maintained a Hold rating on Zoom Video Communications today. The company’s shares closed last Monday at $89.33, close to its 52-week low of $79.03.

According to TipRanks.com, Walravens is a 4-star analyst with an average return of 7.5% and a 48.7% success rate. Walravens covers the Technology sector, focusing on stocks such as Qualtrics International, ZoomInfo Technologies, and DigitalOcean Holdings.

Currently, the analyst consensus on Zoom Video Communications is a Moderate Buy with an average price target of $149.50, which is a 66.4% upside from current levels. In a report issued on May 12, Piper Sandler also downgraded the stock to Hold with a $96.00 price target.

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