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Analysts Offer Insights on Technology Companies: Shopify (SHOP), Ping Identity Holding (PING) and Cognizant (CTSH)

Analysts have been eager to weigh in on the Technology sector with new ratings on Shopify (SHOPResearch Report), Ping Identity Holding (PINGResearch Report) and Cognizant (CTSHResearch Report).

Shopify (SHOP)

In a report released yesterday, Samad Samana from Jefferies maintained a Buy rating on Shopify, with a price target of $550.00. The company’s shares closed last Thursday at $413.09, close to its 52-week low of $395.86.

According to TipRanks.com, Samana is a 4-star analyst with an average return of 8.4% and a 51.4% success rate. Samana covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Par Technology, and RingCentral.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $730.55 average price target, a 79.2% upside from current levels. In a report issued on May 2, Evercore ISI also maintained a Buy rating on the stock with a $1000.00 price target.

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

Ping Identity Holding (PING)

In a report released yesterday, Patrick Colville from Deutsche Bank reiterated a Hold rating on Ping Identity Holding, with a price target of $22.00. The company’s shares closed last Thursday at $24.55.

According to TipRanks.com, Colville is a 1-star analyst with an average return of -6.5% and a 37.1% success rate. Colville covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, ForgeRock Inc, and Informatica.

Currently, the analyst consensus on Ping Identity Holding is a Moderate Buy with an average price target of $32.46, implying a 27.9% upside from current levels. In a report released yesterday, Robert W. Baird also maintained a Hold rating on the stock with a $28.00 price target.

Cognizant (CTSH)

Deutsche Bank analyst Bryan Keane maintained a Hold rating on Cognizant yesterday and set a price target of $92.00. The company’s shares closed last Thursday at $73.60.

According to TipRanks.com, Keane is a 5-star analyst with an average return of 10.6% and a 59.9% success rate. Keane covers the Technology sector, focusing on stocks such as Automatic Data Processing, Fidelity National Info, and Rackspace Technology.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cognizant with a $92.60 average price target, a 17.6% upside from current levels. In a report released yesterday, Needham also maintained a Hold rating on the stock.

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