Analysts Are Increasing Prices Targets of These 5 Tech Stocks

2. Casa Systems, Inc. (NASDAQ:CASA)

Number of Hedge Fund Holders: 10

Casa Systems, Inc. (NASDAQ:CASA) was incorporated in 2003 and is headquartered in Andover, Massachusetts. It operates as a communications technology company, offering physical and cloud infrastructure for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia Pacific, Europe, the Middle East, and Africa.

On April 19, Barclays analyst Tim Long raised the firm’s price target on Casa Systems, Inc. (NASDAQ:CASA) to $9 from $7 and kept an Overweight rating on the shares. The analyst cited the company’s “big strategic win”, referring to its purchase agreement terms with Verizon Communications Inc. (NYSE:VZ). Verizon has agreed to invest $40 million in Casa Systems, Inc. (NASDAQ:CASA)’s common stock, resulting in a 9.9% ownership stake, the analyst told investors.

Among the hedge funds tracked by Insider Monkey in Q4 2021, 10 funds reported owning stakes in Casa Systems, Inc. (NASDAQ:CASA), worth $6.8 million, compared to 11 funds in the prior quarter, holding stakes in Casa Systems, Inc. (NASDAQ:CASA) valued at $9.1 million. Jim Simons’ Renaissance Technologies held the leading position in the company, with 351,696 shares worth approximately $2 million.