Envestnet (NYSE:ENV) Price Target Increased to $60.00 by Analysts at JPMorgan Chase & Co.

Envestnet (NYSE:ENV – Get Rating) had its price target lifted by JPMorgan Chase & Co. from $53.00 to $60.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Raymond James cut shares of Envestnet from a strong-buy rating to an outperform rating and boosted their price objective for the company from $63.00 to $71.00 in a research note on Friday, January 6th. StockNews.com lowered shares of Envestnet from a hold rating to a sell rating in a research note on Saturday, November 19th. Jefferies Financial Group reduced their price objective on shares of Envestnet from $71.00 to $40.00 in a research report on Monday, November 7th. DA Davidson boosted their target price on Envestnet from $70.00 to $74.00 in a research report on Wednesday, January 4th. Finally, JMP Securities cut their target price on Envestnet from $82.00 to $80.00 and set a market outperform rating for the company in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Envestnet presently has an average rating of Hold and a consensus price target of $65.78.

Envestnet Stock Performance

NYSE ENV opened at $66.49 on Monday. The firm has a market cap of $3.68 billion, a P/E ratio of -74.71 and a beta of 1.21. Envestnet has a 52-week low of $41.72 and a 52-week high of $84.58. The business’s 50-day moving average price is $60.90 and its 200 day moving average price is $54.65. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.54.

Envestnet (NYSE:ENV – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The business services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $306.70 million during the quarter, compared to analysts’ expectations of $302.87 million. Envestnet had a positive return on equity of 6.59% and a negative net margin of 3.91%. On average, equities research analysts expect that Envestnet will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Envestnet

Institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in Envestnet by 156.8% during the second quarter. CWM LLC now owns 796 shares of the business services provider’s stock worth $42,000 after purchasing an additional 486 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Envestnet by 34.0% in the second quarter. Hartford Financial Management Inc. now owns 1,206 shares of the business services provider’s stock valued at $64,000 after buying an additional 306 shares in the last quarter. Covestor Ltd increased its position in shares of Envestnet by 86.2% in the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock valued at $104,000 after buying an additional 647 shares in the last quarter. FourThought Financial LLC raised its stake in shares of Envestnet by 51.5% during the 3rd quarter. FourThought Financial LLC now owns 2,111 shares of the business services provider’s stock worth $94,000 after buying an additional 718 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Envestnet by 25.0% in the 3rd quarter. Huntington National Bank now owns 2,417 shares of the business services provider’s stock worth $108,000 after buying an additional 483 shares in the last quarter.

About Envestnet

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Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.