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Analysts’ Top Technology Picks: IMPINJ (PI), Cloudflare (NET)

Tipranks - Tipranks - Wed Aug 5, 3:18AM CDT

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on IMPINJ (PI), Cloudflare (NET) and ON Semiconductor (ON) with bullish sentiments.

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IMPINJ (PI)

Barclays analyst Guy Hardwick maintained a Buy rating on IMPINJ today and set a price target of $176.00. The company’s shares closed last Monday at $161.44.

According to TipRanks.com, Hardwick is a 4-star analyst with an average return of 11.7% and a 64.0% success rate. Hardwick covers the Technology sector, focusing on stocks such as TD SYNNEX Corporation, Teledyne Technologies, and Manhattan Associates. ;'>

IMPINJ has an analyst consensus of Strong Buy, with a price target consensus of $176.14, representing a 17.3% upside. In a report issued on July 29, Jefferies also maintained a Buy rating on the stock with a $190.00 price target.

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Cloudflare (NET)

Barclays analyst Saket Kalia maintained a Buy rating on Cloudflare today and set a price target of $300.00. The company’s shares closed last Monday at $282.74.

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.0% and a 56.1% success rate. Kalia covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Procore Technologies, and Rubrik, Inc. Class A. ;'>

Cloudflare has an analyst consensus of Moderate Buy, with a price target consensus of $273.12, implying a -2.1% downside from current levels. In a report issued on July 21, TipRanks – PerPlexity also upgraded the stock to Buy with a $309.00 price target.

ON Semiconductor (ON)

KeyBanc analyst John Vinh maintained a Buy rating on ON Semiconductor today. The company’s shares closed last Monday at $80.40.

According to TipRanks.com, Vinh is a 5-star analyst with an average return of 28.6% and a 60.3% success rate. Vinh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and ARM Holdings PLC ADR. ;'>

ON Semiconductor has an analyst consensus of Moderate Buy, with a price target consensus of $108.33, implying a 35.7% upside from current levels. In a report issued on July 20, Wells Fargo also maintained a Buy rating on the stock with a $130.00 price target.

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