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Analysts Have Conflicting Sentiments on These Technology Companies: Dropbox (DBX) and Microchip (MCHP)

Tipranks - Tipranks - Fri May 8, 8:44PM CDT

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Dropbox (DBX) and Microchip (MCHP).

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Dropbox (DBX)

In a report released today, Jason Ader from William Blair maintained a Sell rating on Dropbox. The company’s shares closed last Thursday at $25.13.

According to TipRanks.com, Ader is a 2-star analyst with an average return of 0.3% and a 43.7% success rate. Ader covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Rubrik, Inc. Class A, and CommVault Systems. ;'>

Currently, the analyst consensus on Dropbox is a Hold with an average price target of $26.25.

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Microchip (MCHP)

In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Microchip, with a price target of $112.00. The company’s shares closed last Thursday at $101.58.

According to TipRanks.com, Rakesh is a top 25 analyst with an average return of 64.6% and a 71.0% success rate. Rakesh covers the Technology sector, focusing on stocks such as Credo Technology Group Holding Ltd, Advanced Micro Devices, and Allegro MicroSystems. ;'>

Currently, the analyst consensus on Microchip is a Moderate Buy with an average price target of $97.14, representing a -4.9% downside. In a report issued on May 3, Bank of America Securities also reiterated a Buy rating on the stock with a $112.00 price target.

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