Analysts Are Bullish on Top Technology Stocks: Snowflake (SNOW), Workday (WDAY)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Snowflake (SNOW – Research Report), Workday (WDAY – Research Report) and SkyWater Technology (SKYT – Research Report) with bullish sentiments.

Snowflake (SNOW)

In a report released today, Mark Schappel from Loop Capital Markets reiterated a Buy rating on Snowflake, with a price target of $260.00. The company’s shares closed last Monday at $230.93, close to its 52-week high of $237.72.

According to TipRanks.com, Schappel is a 4-star analyst with an average return of 9.7% and a 60.3% success rate. Schappel covers the Technology sector, focusing on stocks such as Aspen Technology, Inc., E2open Parent Holdings, and Manhattan Associates.

Currently, the analyst consensus on Snowflake is a Moderate Buy with an average price target of $228.16, implying a -0.5% downside from current levels. In a report issued on February 12, Evercore ISI also maintained a Buy rating on the stock with a $250.00 price target.

See the top stocks recommended by analysts >>

Workday (WDAY)

Piper Sandler analyst Brent Bracelin maintained a Buy rating on Workday today and set a price target of $330.00. The company’s shares closed last Monday at $307.21, close to its 52-week high of $311.28.

According to TipRanks.com, Bracelin is a 4-star analyst with an average return of 3.8% and a 50.3% success rate. Bracelin covers the Technology sector, focusing on stocks such as Klaviyo, Inc. Class A, ZoomInfo Technologies, and Procore Technologies.

Workday has an analyst consensus of Strong Buy, with a price target consensus of $312.93, a 1.6% upside from current levels. In a report issued on February 13, BMO Capital also maintained a Buy rating on the stock with a $338.00 price target.

SkyWater Technology (SKYT)

Piper Sandler analyst Harsh Kumar reiterated a Buy rating on SkyWater Technology today and set a price target of $14.00. The company’s shares closed last Monday at $11.06.

According to TipRanks.com, Kumar is a top 25 analyst with an average return of 27.3% and a 71.1% success rate. Kumar covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Micro Devices, and Akoustis Technologies.

SkyWater Technology has an analyst consensus of Strong Buy, with a price target consensus of $14.67, representing a 48.2% upside. In a report released today, Needham also maintained a Buy rating on the stock with a $15.00 price target.

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Read More on SNOW:

• Snowflake price target raised to $265 from $230 at Jefferies
• Snowflake upgraded to Buy from Neutral at Cleveland Research
• Snowflake price target raised to $225 from $185 at UBS
• Snowflake price target raised to $265 from $240 at BofA
• Snowflake price target raised to $250 from $230 at Truist