3 Tech Stocks Receiving Bullish Analyst Notes

Synopsys earnings beat has the stock notching new highs

Managing Editor
Aug 17, 2017 at 10:19 AM
facebook X logo linkedin


Analysts are weighing in on data storage specialist NetApp Inc. (NASDAQ:NTAP), cloud stock Nutanix Inc (NASDAQ:NTNX), and software name Synopsys, Inc. (NASDAQ:SNPS). Here's a quick roundup of today's bullish brokerage notes on shares of NTAP, NTNX, and SNPS.

NetApp Earnings Beat Prompts Analyst Attention

NetApp stock is down 5.5% to trade at $40.07, despite receiving no fewer than five price-target hikes, including one to $45 from $42 at Jefferies. The bullish brokerage notes come on the heels of the company's fifth straight profit beat. Heading into today's session, NTAP stock was boasting a 20% year-to-date lead, fresh off a three-year high of $45.24 on July 21.

In the options pit, traders have been bracing for a a post-earnings retreat. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows NTAP's 10 day put/call volume ratio at 1.39 -- in the 84th percentile of its annual range, meaning puts have been bought to open over calls at a faster-than-usual clip.

Jefferies Rates Nutanix Stock a 'Buy'

Nutanix stock is up 4.5% to trade at $22.70, after Jefferies started the IT services name with a "buy" rating and a price target of $30 -- territory not seen since before an early March bear gap. NTNX's 40-day moving average has provided support since mid-May, as the shares continue to fight back after falling to a record low of $14.38 on May 1. 

A round of short covering may also be credited for supporting the stock, considering short interest decreased nearly 10% in the last reporting period. However, NTNX is still heavily shorted, with the 13.6 million shares sold short representing roughly 20% of the stock's total available float.

Synopsys Stock Hits Record High After Earnings

Synopsys stock jumped to a record high of $79.66 out of the gate, after the company's fiscal third-quarter revenue beat and upbeat guidance was met with price-target hikes from at least four brokerages, including one from BofA-Merrill Lynch to $92 from $87. SNPS stock was more recently seen trading up 0.2% at $79.24, and has been on an excellent run -- adding 42% year-over-year. Analysts remain optimistic toward SNPS, with six of the eight brokerages covering Synopsys stock rating it a "buy" or better.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI