Written by MarketBeat Staff
April 26, 2024
There are more than 1,100 technology companies traded on public markets in the United States. Many of these companies are household names, like Apple, Amazon, and Netflix, but there are thousands more technology stocks that most investors have never heard of. Given the sheer volume of software companies, computer equipment makers, consumer tech providers, social networks, and other tech stocks, it can be very hard to identify which tech companies are likely to outperform the market.
Fortunately, Wall Street's brightest minds have already done the hard work for us. Every year, equities research analysts issue approximately 15,000 distinct "buy" and "sell" recommendations for technology companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when top-rated analysts from different research firms are giving "strong buy" and "buy" ratings to the same tech stock.
This presentation highlights the 15 technology companies that have the highest average analyst recommendations from Wall Street's equities research analysts over the last 12 months.
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $108.60 (27.7% Upside)
About Amdocs
Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.
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Recent Analyst Ratings
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 11 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $86.09 (7.8% Upside)
About Astera Labs
Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.
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Recent Analyst Ratings
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
About Lenovo Group
Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, as well as servers and workstations; and a family of mobile Internet devices, including tablets and smartphones.
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Recent Analyst Ratings
- Consensus Rating
- Hold
- Rating Score
- 2.0
- Ratings Breakdown
- 0 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $160.25 (12.1% Upside)
About VMware
VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; and vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with VMware Aria Cloud Management into an integrated stack that delivers ready cloud infrastructure for private and public clouds.
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Recent Analyst Ratings
#5 - United Microelectronics (NYSE:UMC)
- Consensus Rating
- Hold
- Rating Score
- 2.3
- Ratings Breakdown
- 1 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.68 (1.3% Downside)
About United Microelectronics
United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.
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Recent Analyst Ratings
#6 - STMicroelectronics (NYSE:STM)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 7 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $50.75 (22.3% Upside)
About STMicroelectronics
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.
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Recent Analyst Ratings
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 10 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1,036.00 (12.0% Upside)
About ASML
ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers. It offers advanced semiconductor equipment systems, including lithography, metrology, and inspection systems. The company also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography solutions to manufacture various range of semiconductor nodes and technologies.
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Recent Analyst Ratings
#8 - Celestica (NYSE:CLS)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $39.63 (7.7% Downside)
About Celestica
Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.
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Recent Analyst Ratings
#9 - SS&C Technologies (NASDAQ:SSNC)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $71.22 (15.3% Upside)
About SS&C Technologies
SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.
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Recent Analyst Ratings
- Consensus Rating
- Hold
- Rating Score
- 2.0
- Ratings Breakdown
- 0 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $85.67 (1.5% Downside)
About New Relic
New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.
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Recent Analyst Ratings
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 12 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $291.00 (29.3% Upside)
About NICE
NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for the customer engagement market; and smart self service enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.
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Recent Analyst Ratings
#12 - Science Applications International (NYSE:SAIC)
- Consensus Rating
- Reduce
- Rating Score
- 1.8
- Ratings Breakdown
- 0 Buy Ratings, 4 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $127.60 (1.4% Downside)
About Science Applications International
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.
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Recent Analyst Ratings
#13 - CyberArk Software (NASDAQ:CYBR)
- Consensus Rating
- Moderate Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 23 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $258.54 (5.8% Upside)
About CyberArk Software
CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.
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Recent Analyst Ratings
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 8 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $135.18 (7.0% Upside)
About GoDaddy
GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.
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Recent Analyst Ratings
- Consensus Rating
- Moderate Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 37 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $371.87 (22.5% Upside)
About CrowdStrike
CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.
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Recent Analyst Ratings
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