Analysts Offer Insights on Technology Companies: Lyft (LYFT), MACOM Technology Solutions Holdings (MTSI) and RingCentral (RNG)
Analysts have been eager to weigh in on the Technology sector with new ratings on Lyft (LYFT – Research Report), MACOM Technology Solutions Holdings (MTSI – Research Report) and RingCentral (RNG – Research Report).
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Lyft (LYFT)
Evercore ISI analyst Mark Mahaney maintained a Hold rating on Lyft on May 9 and set a price target of $15.00. The company's shares closed last Friday at $16.65.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 15.4% and a 55.5% success rate. Mahaney covers the Technology sector, focusing on stocks such as WEBTOON Entertainment Inc, Uber Technologies, and Trade Desk. ;'>
Lyft has an analyst consensus of Hold, with a price target consensus of $16.02, implying a 9.3% upside from current levels. In a report issued on May 9, Roth MKM also maintained a Hold rating on the stock with a $16.00 price target.
MACOM Technology Solutions Holdings (MTSI)
In a report issued on May 9, Mark Lipacis from Evercore ISI maintained a Buy rating on MACOM Technology Solutions Holdings, with a price target of $146.00. The company's shares closed last Friday at $118.08.
According to TipRanks.com, Lipacis is a top 100 analyst with an average return of 20.7% and a 59.9% success rate. Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Allegro MicroSystems, and GlobalFoundries Inc. ;'>
MACOM Technology Solutions Holdings has an analyst consensus of Strong Buy, with a price target consensus of $141.11, a 16.9% upside from current levels. In a report issued on May 8, Needham also maintained a Buy rating on the stock with a $150.00 price target.
RingCentral (RNG)
In a report issued on May 9, Peter Levine from Evercore ISI maintained a Hold rating on RingCentral, with a price target of $30.00. The company's shares closed last Friday at $27.72, close to its 52-week low of $25.47.
According to TipRanks.com, Levine is a 4-star analyst with an average return of 12.2% and a 55.8% success rate. Levine covers the Technology sector, focusing on stocks such as Zoom Video Communications, CrowdStrike Holdings, and Palo Alto Networks. ;'>
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for RingCentral with a $33.31 average price target, a 24.1% upside from current levels. In a report issued on May 8, Morgan Stanley also maintained a Hold rating on the stock with a $29.00 price target.
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