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Analysts Offer Insights on Technology Companies: Ciena (CIEN) and Elastic (ESTC)

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Ciena (CIENResearch Report) and Elastic (ESTCResearch Report) with bullish sentiments.

Ciena (CIEN)

J.P. Morgan analyst Samik Chatterjee maintained a Buy rating on Ciena yesterday and set a price target of $72.00. The company’s shares closed last Thursday at $50.68, close to its 52-week low of $46.60.

According to TipRanks.com, Chatterjee is a 5-star analyst with an average return of 13.9% and a 53.6% success rate. Chatterjee covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Keysight Technologies, and National Instruments.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ciena with a $71.64 average price target, representing a 52.4% upside. In a report released today, B.Riley Financial also upgraded the stock to Buy with a $67.00 price target.

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

Elastic (ESTC)

J.P. Morgan analyst Pinjalim Bora maintained a Buy rating on Elastic yesterday and set a price target of $90.00. The company’s shares closed last Thursday at $73.62, close to its 52-week low of $50.74.

According to TipRanks.com, Bora is a 2-star analyst with an average return of 0.0% and a 52.2% success rate. Bora covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Coupa Software, and Informatica.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Elastic with a $103.17 average price target, representing a 56.2% upside. In a report issued on May 20, Barclays also maintained a Buy rating on the stock with a $80.00 price target.

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