Wall Street Analysts Are Bullish on Top Technology Picks

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There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Zscaler (ZSResearch Report), Pure Storage (PSTGResearch Report) and Cloudflare (NETResearch Report) with bullish sentiments.

Pure Storage (PSTG)

Wells Fargo analyst Aaron Rakers maintained a Buy rating on Pure Storage yesterday and set a price target of $75.00. The company’s shares closed last Tuesday at $68.35, close to its 52-week high of $70.41.

According to TipRanks.com, Rakers is a top 25 analyst with an average return of 29.5% and a 69.8% success rate. Rakers covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Advanced Micro Devices, and Super Micro Computer.

Currently, the analyst consensus on Pure Storage is a Moderate Buy with an average price target of $71.82, representing a 5.4% upside. In a report issued on June 4, Needham also maintained a Buy rating on the stock with a $80.00 price target.

Cloudflare (NET)

In a report released today, Andrew Nowinski from Wells Fargo maintained a Buy rating on Cloudflare, with a price target of $105.00. The company’s shares closed last Tuesday at $79.08.

According to TipRanks.com, Nowinski is a 5-star analyst with an average return of 15.2% and a 52.4% success rate. Nowinski covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Palo Alto Networks, and CyberArk Software.

Cloudflare has an analyst consensus of Moderate Buy, with a price target consensus of $91.20, implying a 17.9% upside from current levels. In a report issued on June 11, Oppenheimer also maintained a Buy rating on the stock with a $110.00 price target.

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