Envestnet (ENV) Scheduled to Post Quarterly Earnings on Tuesday

Envestnet (NYSE:ENV) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Envestnet has set its Q1 guidance at $0.52-$0.57 EPS and its Q1 2024 guidance at 0.520-0.570 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The company had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. On average, analysts expect Envestnet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Envestnet Stock Performance

NYSE:ENV opened at $62.83 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $68.83. The stock’s 50-day moving average is $56.32 and its two-hundred day moving average is $48.90.

Insider Transactions at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ENV shares. DA Davidson lifted their target price on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Raymond James boosted their price target on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada boosted their price target on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.67.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.