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Analysts Offer Insights on Technology Companies: Microchip (MCHP), Paylocity (PCTY) and Nuvei Corp (NVEI)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Microchip (MCHPResearch Report), Paylocity (PCTYResearch Report) and Nuvei Corp (NVEIResearch Report) with bullish sentiments.

Microchip (MCHP)

In a report released today, Ambrish Srivastava from BMO Capital maintained a Buy rating on Microchip, with a price target of $80.00. The company’s shares closed last Friday at $63.47.

According to TipRanks.com, Srivastava is a 5-star analyst with an average return of 7.5% and a 60.8% success rate. Srivastava covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Skyworks Solutions, and NXP Semiconductors.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Microchip with a $82.25 average price target, which is a 23.8% upside from current levels. In a report issued on October 24, Susquehanna also maintained a Buy rating on the stock with a $85.00 price target.

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

Paylocity (PCTY)

In a report released today, Daniel Jester from BMO Capital maintained a Buy rating on Paylocity, with a price target of $264.00. The company’s shares closed last Friday at $207.04.

According to TipRanks.com, Jester is a 3-star analyst with an average return of 5.0% and a 46.2% success rate. Jester covers the Technology sector, focusing on stocks such as Bill.com Holdings, Coupa Software, and Paycor HCM.

Currently, the analyst consensus on Paylocity is a Strong Buy with an average price target of $275.00, representing a 29.7% upside. In a report issued on October 24, Needham also maintained a Buy rating on the stock with a $325.00 price target.

Nuvei Corp (NVEI)

BMO Capital analyst James Fotheringham maintained a Buy rating on Nuvei Corp today and set a price target of C$106.00. The company’s shares closed last Friday at $28.72, close to its 52-week low of $24.73.

According to TipRanks.com, Fotheringham is a 5-star analyst with an average return of 12.1% and a 60.6% success rate. Fotheringham covers the Financial sector, focusing on stocks such as International Money Express, Discover Financial Services, and Focus Financial Partners.

Currently, the analyst consensus on Nuvei Corp is a Moderate Buy with an average price target of $49.15.

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