Envestnet, Inc. (NYSE:ENV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Envestnet, Inc. (NYSE:ENV – Get Rating) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $84.86.

A number of analysts have issued reports on ENV shares. Piper Sandler decreased their price target on Envestnet from $73.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, June 17th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Friday, February 25th. Raymond James lifted their price objective on Envestnet from $101.00 to $111.00 and gave the company a “strong-buy” rating in a research note on Friday, April 8th. StockNews.com began coverage on Envestnet in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial reduced their price objective on Envestnet from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 7th.

In related news, SVP Barry D. Cooper sold 678 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $73.73, for a total transaction of $49,988.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ENV. Verition Fund Management LLC increased its holdings in Envestnet by 400.0% during the 1st quarter. Verition Fund Management LLC now owns 66,664 shares of the business services provider’s stock worth $4,962,000 after purchasing an additional 53,331 shares during the last quarter. Walleye Capital LLC purchased a new stake in Envestnet during the 1st quarter worth approximately $3,007,000. PB Investment Partners L.P. increased its holdings in Envestnet by 15.1% during the 1st quarter. PB Investment Partners L.P. now owns 258,042 shares of the business services provider’s stock worth $19,208,000 after purchasing an additional 33,898 shares during the last quarter. Worth Venture Partners LLC increased its holdings in Envestnet by 5.8% during the 1st quarter. Worth Venture Partners LLC now owns 32,920 shares of the business services provider’s stock worth $2,451,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Envestnet during the 1st quarter worth approximately $259,000.

Shares of NYSE:ENV opened at $52.82 on Wednesday. The stock’s 50-day moving average price is $68.86 and its two-hundred day moving average price is $72.97. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.89. Envestnet has a 12-month low of $51.39 and a 12-month high of $85.99. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -188.64 and a beta of 1.08.

Envestnet (NYSE:ENV – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $321.36 million during the quarter, compared to analyst estimates of $323.83 million. During the same period in the previous year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts forecast that Envestnet will post 1.34 earnings per share for the current fiscal year.

Envestnet Company Profile (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.

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