tiprankstipranks
Blurbs

Analysts’ Opinions Are Mixed on These Technology Stocks: 8X8 (EGHT), Automatic Data Processing (ADP) and Cognizant (CTSH)

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

8X8 (EGHT)

In a report released yesterday, William Power from Robert W. Baird maintained a Hold rating on 8X8, with a price target of $6.00. The company’s shares closed last Thursday at $5.23, close to its 52-week low of $4.35.

According to TipRanks.com, Power is a 5-star analyst with an average return of 16.2% and a 54.8% success rate. Power covers the Technology sector, focusing on stocks such as Zoom Video Communications, Ziff Davis, Inc., and Axon Enterprise.

Currently, the analyst consensus on 8X8 is a Hold with an average price target of $8.18, which is a 69.4% upside from current levels. In a report released yesterday, BTIG also downgraded the stock to Hold.

See Insiders’ Hot Stocks on TipRanks >>

Automatic Data Processing (ADP)

Robert W. Baird analyst Mark Marcon maintained a Hold rating on Automatic Data Processing yesterday and set a price target of $248.00. The company’s shares closed last Thursday at $239.48.

According to TipRanks.com, Marcon is a 5-star analyst with an average return of 15.7% and a 57.4% success rate. Marcon covers the Technology sector, focusing on stocks such as Ceridian HCM Holding, Sterling Check, and Paylocity.

Currently, the analyst consensus on Automatic Data Processing is a Hold with an average price target of $237.00, a 0.9% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Hold rating on the stock with a $230.00 price target.

Cognizant (CTSH)

In a report issued on July 27, David Koning from Robert W. Baird maintained a Buy rating on Cognizant, with a price target of $78.00. The company’s shares closed last Thursday at $66.83, close to its 52-week low of $63.26.

According to TipRanks.com, Koning is a 4-star analyst with an average return of 3.6% and a 54.4% success rate. Koning covers the Technology sector, focusing on stocks such as TELUS International (CDA), Jack Henry & Associates, and Fidelity National Info.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cognizant with a $79.53 average price target, which is a 22.3% upside from current levels. In a report issued on July 18, RBC Capital also maintained a Buy rating on the stock with a $97.00 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Read More on EGHT:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More