The technology sector has spread far and wide and has seen several innovations in the past couple of years. The new ways of making tech more functional in its process, as well as more compact in form, has changed the landscape of our lifestyles.
As it stands, most of the tech industry’s investors are very optimistic about their investments. 2 analysts last week however have covered a fog of doubt over two tech areas namely Qualcomm Inc and Ooma.
What did they say about Qualcomm Inc?
Christopher Rolland from Susquehanna International Group has recently released some statements and predicted some ratings on Qualcomm Inc. The company’s price target was set at $95 which is fairly optimistic. The company’s standing when the stock exchange closed yesterday however was at $70.45.
Rolland has a 5-star rating from tipranks.com. The analyst is famous for his average returns rate and the success rate that sets him apart from all the other analysts in the market. The success rate is 66.5% which is quite high. He mostly focuses on consumer goods and that is why his prediction seems odd when it comes to Qualcomm Inc.
The analyst formed his own prediction and statement over the price target of $73.38 of Qualcomm Inc. He set the status to moderate buy which is far from the case as the 4.2% difference is quite visible. The kind of bullish statement from him has people on the edge.
What did they say about Ooma?
Michael Latimore, an analyst from Northland Securities, set a buy rating of Ooma to a target of $18. However, the company’s shares were lower than what the target was, as the shares closed yesterday at $13.51. The man commented over how he was sure that the company’s Unified Communications as a Service (UCaaS) strategy and trajectory would lead them to a greater market share and greater profits.
Mr. Latimore is ranked as a 5-star analyst as well, the same as Mr. Rolland. It is unusual for analysts with high rankings to make such mistakes. The current success rate of Mr. Rolland is set at 58.9% on tipranks.com. The average rate of return for analysts has been set at 15.6%.
Top ranks has an amount of 36,000 company insights through insiders who are working nonstop to provide accurate information. It is only a fluke when things don’t turn out the same way they predict.