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Analysts Offer Insights on Technology Companies: Okta (OKTA), Tyler Technologies (TYL) and Allegro MicroSystems (ALGM)

Tipranks - Tipranks - Fri Jul 31, 1:42PM CDT

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Okta (OKTA), Tyler Technologies (TYL) and Allegro MicroSystems (ALGM) with bullish sentiments.

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Okta (OKTA)

William Blair analyst Jonathan Ho maintained a Buy rating on Okta today. The company’s shares closed last Thursday at $138.10.

According to TipRanks.com, Ho is a 4-star analyst with an average return of 7.6% and a 52.8% success rate. Ho covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Palo Alto Networks, and Tyler Technologies. ;'>

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Okta with a $127.12 average price target, a -7.2% downside from current levels. In a report issued on July 15, TipRanks – OpenAI also upgraded the stock to Buy with a $156.00 price target.

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Tyler Technologies (TYL)

Needham analyst Joshua Reilly maintained a Buy rating on Tyler Technologies today and set a price target of $400.00. The company’s shares closed last Thursday at $323.54.

According to TipRanks.com, Reilly is a 4-star analyst with an average return of 4.2% and a 45.1% success rate. Reilly covers the Technology sector, focusing on stocks such as Zoom Video Communications, ZoomInfo Technologies, and Clear Secure. ;'>

Currently, the analyst consensus on Tyler Technologies is a Strong Buy with an average price target of $424.00, a 31.6% upside from current levels. In a report issued on July 22, Guggenheim also initiated coverage with a Buy rating on the stock with a $440.00 price target.

Allegro MicroSystems (ALGM)

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Allegro MicroSystems today and set a price target of $58.00. The company’s shares closed last Thursday at $38.90.

According to TipRanks.com, Rakesh is a top 25 analyst with an average return of 63.4% and a 65.2% success rate. Rakesh covers the Technology sector, focusing on stocks such as Credo Technology Group Holding Ltd, Advanced Micro Devices, and Super Micro Computer. ;'>

Allegro MicroSystems has an analyst consensus of Strong Buy, with a price target consensus of $56.22, implying a 32.9% upside from current levels. In a report released today, TipRanks – PerPlexity also upgraded the stock to Buy with a $46.00 price target.

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