Morning Tech Movers: FireEye (NASDAQ:FEYE), GT Advanced Technologies (NASDAQ:GTAT), Zynga (NASDAQ:ZNGA)

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FBR Capital says a “golden buying opportunity” exists in the enterprise software space following the recent sell-off of high-growth names. The firm believes overall software results in Q1 tracked in line to slightly ahead of expectations. It recommends buying Splunk (NASDAQ:SPLK), Salesforce.com (NYSE:CRM), Workday (NYSE:WDAY), FireEye (NASDAQ:FEYE), NetSuite (NYSE:N) and Palo Alto (NYSE:PANW) on the recent pullbacks.

GT Advanced Technologies (NASDAQ:GTAT) announced that it has received $58.6M in orders this quarter for high temperature refractory metal furnaces that are used for a variety of industrial purposes. These orders will be reflected in Q2 reportable backlog and GT expects to recognize revenue from these orders during the second half of 2014.

Analysts have a consensus price target of $18.79 on GT Advanced Technologies Inc(NASDAQ:GTAT) which indicates a 11.16% upside. The consensus rating of the stock is a BUY with a score of 2.86. There are currently 1 Hold Rating on the stock and 6 Buy ratings.

The most recent analyst action consisted of Goldman Sachs boosting their price target to $24.

Zynga (NASDAQ:ZNGA) rose in early Monday trading as Wedbush adds shares to its Best Ideas List and reiterates an outperform rating. The research firm’s price target of $7 per share suggests a 66% upside potential. Wedbush said, “CEO Don Mattrick streamlined the company’s cost structure and stabilized its core business, positioning Zynga to grow revenues and profits in 2014. We think that there is potential for shares to appreciate above our target if Zynga’s management executes on Mr. Mattrick’s plan…” as reported by The Economic Daily. This internet game maker, including Words With Friends and FarmVille 2, slid 24% over the past month. Shares are up 0.8% to $4.23 per share in early Monday trading and trades within a 52-week price range of $2.50 – $5.89 per share.

Analysts have a consensus price target of $4.44 on Zynga (NASDAQ:ZNGA) which indicates a 5.81% upside. The consensus rating of the stock is a HOLD with a score of 1.94. There are currently 11 Hold Ratings on the stock, 3 sell ratings and 2 Buy ratings.

The most recent analyst action consisted of Zacks downgrading the stock from Outperform to Neutral on 4/2/2014.

 

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