Envestnet, Inc. (NYSE:ENV) Receives $61.88 Consensus Price Target from Brokerages

Envestnet, Inc. (NYSE:ENV) has been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $61.88.

Several research firms recently commented on ENV. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of Envestnet in a research note on Saturday, October 19th. They issued a “sell” rating on the stock. UBS Group reaffirmed a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Finally, William Blair reiterated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th.

Institutional Trading of Envestnet

A number of institutional investors have recently modified their holdings of the company. Everence Capital Management Inc. boosted its holdings in shares of Envestnet by 25.8% in the 3rd quarter. Everence Capital Management Inc. now owns 6,190 shares of the business services provider’s stock valued at $388,000 after buying an additional 1,270 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Envestnet by 15.0% in the 3rd quarter. Park Avenue Securities LLC now owns 7,158 shares of the business services provider’s stock valued at $448,000 after buying an additional 933 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after buying an additional 945 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Envestnet by 27.8% in the 2nd quarter. Truist Financial Corp now owns 15,489 shares of the business services provider’s stock valued at $969,000 after buying an additional 3,370 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Envestnet in the 2nd quarter valued at about $260,000.

Envestnet Stock Performance

Shares of ENV opened at $62.79 on Friday. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. The company has a market cap of $3.46 billion, a P/E ratio of -17.64 and a beta of 1.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. The company’s fifty day simple moving average is $62.71 and its 200-day simple moving average is $62.87.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). The company had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. As a group, analysts expect that Envestnet will post 1.71 EPS for the current year.

Envestnet Company Profile

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.