Rackspace Technology Inc. (NYSE: RXT) was started with an Outperform rating at William Blair. The stock has traded in a 52-week range of $15.25 to $25.76 and has a $26.88 consensus price objective. Wednesday’s final trade came in at $23.78.
S&P Global Inc. (NASDAQ: SPGI) was raised from Market Perform to Outperform with a $402 price target at Raymond James. The consensus price objective is $401.38. Wednesday’s closing share price was $352.87.
Snap Inc. (NYSE: SNAP) was started with an Outperform rating and a $65 price target at Wolfe Research. The consensus target for the social media star is $75.12, and the stock closed Wednesday at $52.29, which was up over 5% for the day.
Spotify Technology S.A. (NYSE: SPOT) was started at Peer Perform with a $260 price target at Wolfe Research. That compares with the much higher $311.11 consensus and Wednesday’s last trade of $267.95, following a 4% gain for the day.
uniQure N.V. (NYSE: QURE) was raised to Buy from Neutral at Mizuho, where the analyst has set a $52 price target. The consensus objective is $67.65, and the last Wednesday trade was reported at $33.69.
Twitter Inc. (NYSE: TWTR) was started at Wolfe Research with a Peer Perform rating and a $65 price target. The posted consensus target for the social media giant is $69.72, and the stock closed on Wednesday at $63.63 per share.
Viasat Inc. (NASDAQ: VSAT) was raised at Raymond James from Outperform to Strong Buy with a $67 price target. The higher $72.06 consensus target is also well above Wednesday’s closing print of $48.07.
Despite a sell-off, Goldman Sachs feels many top software stocks are still trading with reasonable valuation. Five of them have very solid upside potential to the firm’s price targets and may make sense for aggressive growth investors looking to add software exposure.
Wednesday’s early top analyst upgrades and downgrades included Apple, Applied Materials, BP, Bumble, Carrier, Harley-Davidson, Hess, Illumina, Johnson Controls and Lennar. Analyst calls seen later in the day were on BlackBerry, Lam Research, Shopify, Square and more.