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Analysts Offer Insights on Technology Companies: 8X8 (EGHT), Cognizant (CTSH) and IMPINJ (PI)

Analysts have been eager to weigh in on the Technology sector with new ratings on 8X8 (EGHTResearch Report), Cognizant (CTSHResearch Report) and IMPINJ (PIResearch Report).

8X8 (EGHT)

In a report released today, Ryan Koontz from Needham maintained a Buy rating on 8X8, with a price target of $8.00. The company’s shares closed last Wednesday at $5.34, close to its 52-week low of $4.35.

According to TipRanks.com, Koontz is a 4-star analyst with an average return of 4.1% and a 50.3% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Otonomo Technologies, and Planet Labs PBC.

8X8 has an analyst consensus of Hold, with a price target consensus of $9.33.

See the top stocks recommended by analysts >>

Cognizant (CTSH)

In a report released today, Mayank Tandon from Needham maintained a Hold rating on Cognizant. The company’s shares closed last Wednesday at $70.30.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 10.6% and a 49.5% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Duck Creek Technologies, and Grid Dynamics Holdings.

Currently, the analyst consensus on Cognizant is a Moderate Buy with an average price target of $81.38, which is a 19.0% upside from current levels. In a report issued on July 22, Morgan Stanley also maintained a Hold rating on the stock with a $75.00 price target.

IMPINJ (PI)

Needham analyst James Ricchiuti reiterated a Buy rating on IMPINJ today and set a price target of $102.00. The company’s shares closed last Wednesday at $69.88.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 16.9% and a 58.0% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Shapeways Holdings, and Universal Display.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMPINJ with a $93.33 average price target, implying a 34.3% upside from current levels. In a report issued on July 15, Goldman Sachs also maintained a Buy rating on the stock with a $78.00 price target.

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