Envestnet (NYSE:ENV) Receives “Market Outperform” Rating from JMP Securities

Envestnet (NYSE:ENV – Get Rating)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a report issued on Monday, Benzinga reports. They presently have a $80.00 target price on the business services provider’s stock. JMP Securities’ price objective points to a potential upside of 44.82% from the stock’s current price.

A number of other research analysts have also recently issued reports on ENV. DA Davidson raised their price target on shares of Envestnet from $70.00 to $74.00 in a report on Wednesday, January 4th. Raymond James cut shares of Envestnet from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $63.00 to $71.00 in a report on Friday, January 6th. JPMorgan Chase & Co. raised their target price on shares of Envestnet from $53.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. Jefferies Financial Group raised their target price on shares of Envestnet from $40.00 to $47.00 in a report on Tuesday, February 21st. Finally, StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a report on Saturday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Envestnet has a consensus rating of “Hold” and an average target price of $63.63.

Envestnet Trading Up 2.1 %

NYSE:ENV opened at $55.24 on Monday. The firm has a 50 day moving average of $64.20 and a 200 day moving average of $56.73. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -33.48 and a beta of 1.22. Envestnet has a 52 week low of $41.72 and a 52 week high of $84.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.14.

Hedge Funds Weigh In On Envestnet

A number of institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its stake in shares of Envestnet by 3,410.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 9,304 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 9,039 shares during the period. Alliancebernstein L.P. raised its stake in shares of Envestnet by 0.3% in the 4th quarter. Alliancebernstein L.P. now owns 133,177 shares of the business services provider’s stock valued at $8,217,000 after acquiring an additional 459 shares during the period. McIlrath & Eck LLC raised its stake in shares of Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 469 shares during the period. Sculptor Capital LP purchased a new stake in shares of Envestnet in the 4th quarter valued at approximately $616,000. Finally, Select Equity Group L.P. purchased a new stake in shares of Envestnet in the 4th quarter valued at approximately $697,000.

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.