Envestnet (NYSE:ENV) Updates FY 2022 Earnings Guidance

Envestnet (NYSE:ENVGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.17-$2.23 for the period, compared to the consensus EPS estimate of $2.32. The company issued revenue guidance of $1.33 billion-$1.34 billion, compared to the consensus revenue estimate of $1.35 billion.Envestnet also updated its Q2 2022 guidance to $0.45-$0.46 EPS.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Envestnet from a sell rating to a hold rating and set a $87.00 price objective on the stock in a research report on Tuesday, April 26th. StockNews.com assumed coverage on Envestnet in a research report on Thursday, March 31st. They issued a hold rating on the stock. Truist Financial lowered their price objective on Envestnet from $95.00 to $90.00 and set a buy rating on the stock in a research report on Monday, March 7th. DA Davidson upgraded Envestnet from a neutral rating to a buy rating and set a $86.00 price objective on the stock in a research report on Friday, February 25th. Finally, Raymond James boosted their target price on Envestnet from $101.00 to $111.00 and gave the stock a strong-buy rating in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $89.57.

Shares of NYSE ENV opened at $64.70 on Thursday. The business’s 50 day moving average is $74.02 and its two-hundred day moving average is $75.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.82 and a quick ratio of 1.82. Envestnet has a 1-year low of $59.01 and a 1-year high of $85.99. The stock has a market capitalization of $3.57 billion, a P/E ratio of -231.06 and a beta of 1.08.

Envestnet (NYSE:ENVGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The business services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.11). Envestnet had a positive return on equity of 8.83% and a negative net margin of 1.26%. The company had revenue of $321.36 million for the quarter, compared to the consensus estimate of $323.83 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Envestnet will post 1.34 earnings per share for the current fiscal year.

In related news, SVP Barry D. Cooper sold 678 shares of the stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $73.73, for a total value of $49,988.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew Majoros sold 400 shares of the stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $75.33, for a total value of $30,132.00. The disclosure for this sale can be found here. Corporate insiders own 1.44% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Covestor Ltd lifted its holdings in Envestnet by 86.2% during the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after buying an additional 647 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Envestnet by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after buying an additional 267 shares during the period. Virtu Financial LLC purchased a new stake in Envestnet during the first quarter worth $259,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Envestnet during the 4th quarter valued at $317,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Envestnet during the 4th quarter valued at $342,000.

About Envestnet (Get Rating)

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

Further Reading

Earnings History and Estimates for Envestnet (NYSE:ENV)

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