Envestnet (ENV) Scheduled to Post Earnings on Tuesday

Envestnet (NYSE:ENV) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Envestnet to post 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 interested in listening to the company’s conference call can do so using this link.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 Down 0.7 %

Envestnet stock opened at $62.96 on Monday. The stock has a 50-day simple moving average of $57.32 and a 200-day simple moving average of $49.48. The company has a market capitalization of $3.45 billion, a P/E ratio of -14.41 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $68.83.

Insider Activity at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $52.99 per share, with a total value of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. Company insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ENV has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a report on Wednesday, April 17th. William Blair reiterated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Raymond James lifted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. DA Davidson upped their price target on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price target on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.