Analysts’ Opinions Are Mixed on These Technology Stocks: Roper Technologies (ROP), Cadence Design (CDNS) and Rapid7 (RPD)

Analysts have been eager to weigh in on the Technology sector with new ratings on Roper Technologies (ROP – Research Report), Cadence Design (CDNS – Research Report) and Rapid7 (RPD – Research Report).

Roper Technologies (ROP)

Barclays analyst Julian Mitchell maintained a Buy rating on Roper Technologies yesterday and set a price target of $596.00. The company’s shares closed last Friday at $549.62, close to its 52-week high of $562.69.

According to TipRanks.com, Mitchell is a top 100 analyst with an average return of 15.1% and a 65.3% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Stanley Black & Decker.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Roper Technologies with a $591.83 average price target, which is an 8.8% upside from current levels. In a report issued on January 22, Wells Fargo also maintained a Buy rating on the stock with a $615.00 price target.

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Cadence Design (CDNS)

KeyBanc analyst Jason Celino maintained a Buy rating on Cadence Design today and set a price target of $325.00. The company’s shares closed last Friday at $296.55, close to its 52-week high of $301.61.

According to TipRanks.com, Celino is a 5-star analyst with an average return of 11.9% and a 64.4% success rate. Celino covers the Technology sector, focusing on stocks such as Aspen Technology, Inc., Procore Technologies, and PROS Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $302.50 average price target.

Rapid7 (RPD)

Barclays analyst Saket Kalia maintained a Hold rating on Rapid7 today and set a price target of $58.00. The company’s shares closed last Friday at $56.79, close to its 52-week high of $60.15.

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 15.5% and a 61.2% success rate. Kalia covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Procore Technologies, and Palo Alto Networks.

Currently, the analyst consensus on Rapid7 is a Moderate Buy with an average price target of $61.82.

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Read More on ROP:

• Roper Technologies price target raised to $660 from $575 at Truist
• Roper Technologies price target raised to $615 from $582 at Baird
• Roper Technologies price target raised to $525 from $500 at Mizuho
• Roper Technologies announces 2023 financial results
• Roper Technologies sees Q1 adjusted EPS $4.30-$4.34, consensus $4.32