Posted on Thursday, February 21st, 2019 by MarketBeat StaffThere are more than 1,100 technology companies traded on public markets in the United States. Given the sheer number of hardware makers, social networks, software companies, service providers and other tech stocks, it can be hard to identify which tech companies are going to outperform the market.
Fortunately, Wall Street's brightest minds have already done this for us. Every year, analyst issue approximately 15,000 distinct recommendations for technology companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when several analysts from different brokerages and research firm are giving "strong buy" and "buy" ratings to the same tech stock.
This slide show lists the 15 technology companies that have the highest average analyst recommendations from Wall Street's equities research analysts over the last 12 months.
#1 - eGain (NASDAQ:EGAN)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $14.6667 (25.4% Upside)
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors. The company's suite includes various applications for digital interaction, knowledge management, and AI-based process guidance. It also provides integrated analytics for contact centers and digital properties to measure, manage, and optimize resources. In addition, the company offers subscription services and customer support services; consulting services, including implementation, custom solution development, and systems integration services; and education services, such as training programs, as well as online tutorial modules. It serves customers in various industry sectors, including the healthcare, retail, telecommunications, financial services, insurance, outsourced services, technology, utilities, government, manufacturing, and consumer electronics industries. The company was founded in 1997 and is headquartered in Sunnyvale, California.
#2 - Medical Transcription Billing (NASDAQ:MTBC)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $4.3750 (-3.8% Upside)
Medical Transcription Billing, Corp. is a healthcare information technology company that provides an integrated suite of Web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company's offering, PracticePro, allows healthcare practices with the core software and business services on Software-as-a-Service (SaaS) platform. PracticePro includes practice management software and related tools, which facilitate the day-to-day operation of a medical practice; electronic health records (EHR), which allow its customers to qualify for government incentives; revenue cycle management (RCM) services, which include medical billing, analytics and related services, and mobile Health (mHealth) solutions, including smartphone applications that assist patients and healthcare providers in the provision of healthcare services. The Company offers a clearinghouse service, which allows clients to track claim status.
#3 - Arco Platform (NASDAQ:ARCE)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $27.00 (2.1% Upside)
Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform. As of March 31, 2018, it had a network consisted of 1,140 partner schools and 405,814 enrolled students. The company's activities also comprise editing, publishing, advertising, and sale of educational content for private schools. It serves students, teachers, administrators, and parents. The company was founded in 2004 and is headquartered in São Paulo, Brazil.
#4 - OptimizeRx (NASDAQ:OPRX)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $20.00 (55.0% Upside)
OptimizeRx Corporation provides digital health messaging to the pharmaceutical industry. The company offers a direct channel for pharmaceutical companies to communicate with healthcare providers. Its products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-Prescribe systems to search, print, or electronically dispense directly to patients, as well as a network of pharmacies; and brand messaging services, such as various brand awareness and clinical messaging services consisting of brand awareness messages, reminder ads, clinical messages, and unbranded messages that could be targeted by specialty, diagnostic code, and other criteria. The company's products and applications also comprise brand support services, which focuses on educating and working with pharmaceutical manufacturers on identifying, formulating, and implementing new eRx media strategies, including drug file integration, sales force training, and strategy development services for promoting their products. It has a strategic partnership with Patient Connect to deliver real-time messaging at point-of-care in Europe. OptimizeRx Corporation is based in Rochester, Michigan.
#5 - Akoustis Technologies (NASDAQ:AKTS)
Consensus Rating: Buy
Rating Score: 2.9
Ratings Breakdown: 6 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $10.50 (56.0% Upside)
Akoustis Technologies, Inc., through its subsidiary, Akoustis, Inc., develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services. The RF Filters segment consists of amplifier and filter products. It offers RF filters for mobile wireless devices, such as smartphones and tablets, cellular infrastructure equipment, and Wi-Fi premise equipment. The company was founded in 2014 and is headquartered in Huntersville, North Carolina.
#6 - Wix.Com (NASDAQ:WIX)
Consensus Rating: Buy
Rating Score: 2.7
Ratings Breakdown: 12 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
Consensus Price Target: $110.8571 (1.2% Upside)
Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence. The company's principal product is the Wix Editor, a drag-and-drop visual development and Website editing environment platform. Its applications and value-added solutions comprise Wix App Market, an online platform that offers its users a range of software apps, which could be integrated as add-ons into its users' Websites. In addition, the company provides Wix ShoutOut, which enables users to create and send customized email campaigns, such as newsletters, updates, and promotions directly from their Wix accounts. Further, it offers Wix Stores that allows its users to create, design, and manage an online store through which they may sell their products online and process payments using an integrated shopping cart app; Wix Bookings, an online appointment booking solution; Wix Hotels, a Website for hotels, B&Bs, and vacation rentals; Wix Music, an advanced music player solution; and Wix Restaurants that provides various solutions for restauranteurs, including Wix Restaurants menus, orders, and reservations. Additionally, the company provides Wix Photography, a solution for photographers looking to create their portfolio and manage their business online; Wix Video that allows its customers to showcase, promote, and sell videos on their Wix Website; and customer support and services. As of December 31, 2017, it had approximately 119.3 million registered users and 2,465,160 premium subscriptions. The company was formerly known as Wixpress Ltd. Wix.com Ltd. was founded in 2006 and is headquartered in Tel Aviv, Israel.
#7 - Zendesk (NYSE:ZEN)
Consensus Rating: Buy
Rating Score: 2.8
Ratings Breakdown: 16 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $78.0895 (2.2% Upside)
Zendesk, Inc., a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization. In addition, it operates a developer platform that allows organizations to extend the functionality of its family of products, integrate into internal and third-party systems, and customize the experience for their employees and customers. It has operations in the United States, Europe, the Middle East, Africa, and internationally. Zendesk, Inc. was founded in 2007 and is headquartered in San Francisco, California.
#8 - Rapid7 (NASDAQ:RPD)
Consensus Rating: Buy
Rating Score: 2.9
Ratings Breakdown: 11 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $41.0769 (-9.1% Upside)
Rapid7, Inc. provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution. The company's incident detection and response solutions comprise InsightIDR, an insight platform based solution; Managed Detection and Response, an outsourced service; and incident response services that offer customers with access to security experts and experience. In addition, it provides Logentries, a cloud-based solution for collecting, searching, visualizing, and analyzing log data, as well as enables organizations to store and search data; InsightOps, an IT operations solution to centralize machine data from organizations' IT environments for operational awareness and control; and Komand, a solution, which is designed to automatically identify risks, respond to incidents, and address issues. Further, the company provides security advisory services, such as cyber security maturity assessment, incident response program development, penetration testing, security program development, Virtual CISO, IoT security, and threat modeling services. It offers its products through a combination of perpetual and term software licenses, cloud-based subscriptions, and managed services. The company serves clients in technology, energy, financial services, healthcare and life sciences, manufacturing, media and entertainment, retail, education, real estate, transportation, government, and professional services industries through sales teams, and indirect channel partner relationships, as well as directly in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Rapid7, Inc. was incorporated in 2000 and is headquartered in Boston, Massachusetts.
#9 - Altice USA (NYSE:ATUS)
Consensus Rating: Buy
Rating Score: 2.9
Ratings Breakdown: 17 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $24.9235 (17.1% Upside)
Altice USA, Inc., together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers. The company also offers wireless routers and Internet security software; and pay television services, which include delivery of broadcast stations and cable networks, and advanced digital pay television services, such as video-on-demand, high-definition channels, digital video recorder, and pay-per-view. In addition, it provides Ethernet, data transport, IP-based virtual private networks, Internet access, and telephony services; hosted telephony, managed Wi-Fi, managed desktop and server backup services; managed collaboration services, including audio and Web conferencing; managed services, including business e-mail, hosted private branch exchange, Web space storage, and network security monitoring; data-driven television, digital, and other multi-platform advertising services; and data-driven and audience-based advertising solutions. Further, the company operates local news channels, as well as traffic and weather channels; News12.com, a destination for local news on the Web; and News 12 To Go, a mobile app for phones and tablets. Altice USA, Inc. is headquartered in Long Island City, New York. Altice USA, Inc. operates independently of Altice N.V. as of June 8, 2018.
#10 - ServiceNow (NYSE:NOW)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 25 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $223.0714 (-3.3% Upside)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools. The company also provides information technology (IT) solutions, such as IT service management product suite for enterprise's employees, customers, and partners; IT operations management that connects a customer's physical and cloud-based IT infrastructure with applications and platforms; and IT business management product suite that enables customers to manage their IT priorities. In addition, it offers customer service management product for customer service cases and requests; human resources service delivery product; and security operations product for security operations management requirements of third-party. Further, the company provides professional services, training services and certification programs, and customer support services. It serves enterprises in various industries, including financial services, consumer products, IT services, healthcare, government, education, and technology. The company sells products through its direct sales team, as well as indirectly through third-party channels by partnering with systems integrators, managed services providers, and resale partners. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. ServiceNow, Inc. was founded in 2004 and is headquartered in Santa Clara, California.
#11 - Okta (NASDAQ:OKTA)
Consensus Rating: Buy
Rating Score: 2.8
Ratings Breakdown: 16 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $72.9412 (-11.3% Upside)
Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops. It also offers customer support and training, and professional services. Okta, Inc. sells its products directly to customers through sales force, as well as through channel partners. The company was formerly known as Saasure, Inc. Okta, Inc. was founded in 2009 and is headquartered in San Francisco, California.
#12 - Smartsheet (NYSE:SMAR)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 8 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $34.7143 (-8.0% Upside)
Smartsheet Inc. provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts. It also provides Smartprojects; Smartcalendars, which align teams and organizations by connecting deadlines to workflows; Smartforms enables business users to collect information in a structured and consistent format; Smartautomation that automates repetitive processes; and Smartintegrations enable organizations and teams to connect, sync, and extend enterprise applications. In addition, it offers Connectors; and Control Center that enables organizations to achieve consistent work execution. As of January 31, 2018, it served approximately 92,000 customers. The company was founded in 2005 and is headquartered in Bellevue, Washington.
#13 - i3 Verticals (NASDAQ:IIIV)
Consensus Rating: Buy
Rating Score: 3.0
Ratings Breakdown: 5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $24.40 (13.5% Upside)
i3 Verticals, Inc. provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support. Its payment processing services enable clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks. The company also licenses software; and provides ongoing support, and other point of sale-related solutions. It offers its solutions to its clients through direct sales force, as well as through a network of distribution partners, including independent software vendors, value-added resellers, independent sales organizations, and other referral partners, such as financial institutions. The company was founded in 2012 and is headquartered in Nashville, Tennessee.
#14 - Splunk (NASDAQ:SPLK)
Consensus Rating: Buy
Rating Score: 2.8
Ratings Breakdown: 28 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
Consensus Price Target: $129.20 (-2.3% Upside)
Splunk Inc. provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud. The company also provides Splunk Light, which offers log search and analysis for small IT environments; and Splunk Analytics for Hadoop, a software for exploring, analyzing, and visualizing data stored in Hadoop and Amazon S3. In addition, it offers Splunk Enterprise Security that addresses security threats and information; Splunk IT Service Intelligence, which monitors health and key performance indicators of critical IT services; Splunk User Behavior Analytics that detects cyber-attacks and insider threats; Splunk Machine Learning Toolkit, an app to apply machine learning techniques and algorithms to data stored in Splunk; Splunk App for AWS that collects and analyzes data from AWS data sources; and Splunk DB Connect to get business and enterprise context. Further, the company operates Splunkbase and Splunk Answers Websites, which provide an environment to share apps, collaborate on the use of its software, and provide community-based support and education, as well as offers application programming interfaces and software development kits. Additionally, it offers maintenance and customer support, training, and consulting and implementation services. The company serves cloud and online services, education, financial services, government, healthcare/pharmaceuticals, industrials/manufacturing, media/entertainment, retail/ecommerce, technology, and telecommunications industries. Splunk Inc. was incorporated in 2003 and is headquartered in San Francisco, California.
#15 - Twilio (NYSE:TWLO)
Consensus Rating: Buy
Rating Score: 2.9
Ratings Breakdown: 17 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $108.5556 (-3.7% Upside)
Twilio Inc. provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. The company's programmable communications cloud provides a set of application programming interfaces that enable developers to embed voice, messaging, and video capabilities into their applications. Twilio Inc. was founded in 2008 and is headquartered in San Francisco, California.
