Analysts Offer Insights on Technology Companies: Microchip (MCHP), Envestnet (ENV) and Alarm (ALRM)


There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Microchip (MCHP), Envestnet (ENV) and Alarm (ALRM) with bullish sentiments.

Microchip (MCHP)

Needham analyst Rajvindra Gill assigned a Buy rating to Microchip today and set a price target of $130.00. The company’s shares closed last Thursday at $118.38, close to its 52-week high of $118.63.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 3.6% and a 57.1% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $134.40 average price target, which is a 16.6% upside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $140.00 price target.

See today’s analyst top recommended stocks >>

Envestnet (ENV)

In a report released yesterday, Patrick O’Shaughnessy from Raymond James maintained a Buy rating on Envestnet, with a price target of $105.00. The company’s shares closed last Thursday at $83.71.

According to TipRanks.com, O’Shaughnessy is a 5-star analyst with an average return of 11.7% and a 71.6% success rate. O’Shaughnessy covers the Financial sector, focusing on stocks such as AssetMark Financial Holdings, Intercontinental Exchange, and Focus Financial Partners.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Envestnet with a $98.33 average price target.

Alarm (ALRM)

Raymond James analyst Adam Tindle maintained a Buy rating on Alarm yesterday and set a price target of $75.00. The company’s shares closed last Thursday at $65.12.

According to TipRanks.com, Tindle ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -4.4% and a 40.5% success rate. Tindle covers the Technology sector, focusing on stocks such as Insight Enterprises, Motorola Solutions, and Arrow Electronics.

Currently, the analyst consensus on Alarm is a Strong Buy with an average price target of $71.67, implying a 9.9% upside from current levels. In a report released today, Northland Securities also assigned a Buy rating to the stock with a $75.00 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts