Analysts Offer Insights on Technology Companies: Onto Innovation (ONTO) and Shopify (SHOP)

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Onto Innovation (ONTO) and Shopify (SHOP) with bullish sentiments.

Onto Innovation (ONTO)

In a report released today, Brian Chin from Stifel Nicolaus maintained a Buy rating on Onto Innovation, with a price target of $350.00. The company’s shares closed last Wednesday at $295.76.

According to TipRanks.com, Chin is a 5-star analyst with an average return of 42.5% and a 68.5% success rate. Chin covers the Technology sector, focusing on stocks such as SkyWater Technology, Applied Materials, and Penguin Solutions.

Onto Innovation has an analyst consensus of Strong Buy, with a price target consensus of $338.57, which is a 17.8% upside from current levels. In a report issued on April 22, Needham also maintained a Buy rating on the stock with a $320.00 price target.

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Shopify (SHOP)

D.A. Davidson analyst Gil Luria reiterated a Buy rating on Shopify today. The company’s shares closed last Wednesday at $106.27.

According to TipRanks.com, Luria is a 4-star analyst with an average return of 9.5% and a 50.6% success rate. Luria covers the Technology sector, focusing on stocks such as SoundHound AI, Inc Class A, Advanced Micro Devices, and Palantir Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Shopify with a $160.10 average price target, which is a 47.4% upside from current levels. In a report released yesterday, TipRanks – PerPlexity also upgraded the stock to Buy with a C$199.00 price target.

Read More on ONTO:

• Onto Innovation Earnings Call Flags Strong Growth Path
• Onto Innovation reports Q1 adjusted EPS $1.42, consensus $1.42
• Onto Innovation sees Q2 adjusted EPS $1.65-$1.73, consensus $1.69
• Onto Innovation (ONTO) Q1 Earnings Cheat Sheet
• 3 Best Tech Stocks to Buy this Week 04/21/26