Envestnet, Inc. (NYSE:ENV) Expected to Announce Quarterly Sales of $330.55 Million

Wall Street brokerages expect that Envestnet, Inc. (NYSE:ENVGet Rating) will report sales of $330.55 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Envestnet’s earnings, with estimates ranging from $326.16 million to $335.00 million. Envestnet posted sales of $288.74 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Envestnet will report full-year sales of $1.35 billion for the current year, with estimates ranging from $1.34 billion to $1.37 billion. For the next fiscal year, analysts expect that the company will post sales of $1.54 billion, with estimates ranging from $1.52 billion to $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Envestnet.

Envestnet (NYSE:ENVGet Rating) last posted its earnings results on Thursday, May 5th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Envestnet had a net margin of 1.12% and a return on equity of 10.86%. The business had revenue of $321.36 million for the quarter, compared to analyst estimates of $323.83 million. During the same period last year, the business posted $0.49 EPS. Envestnet’s revenue was up 16.8% compared to the same quarter last year.

A number of research analysts recently issued reports on ENV shares. StockNews.com started coverage on shares of Envestnet in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, February 25th. Raymond James raised their price target on shares of Envestnet from $101.00 to $111.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 8th. Truist Financial decreased their price target on shares of Envestnet from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, March 7th. Finally, Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating and set a $87.00 price target on the stock in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $89.57.

NYSE:ENV opened at $67.99 on Friday. Envestnet has a 1 year low of $64.70 and a 1 year high of $85.99. The firm’s fifty day simple moving average is $76.91 and its 200 day simple moving average is $77.16. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.75 billion, a PE ratio of 283.30 and a beta of 1.07.

In other news, SVP Barry D. Cooper sold 678 shares of the firm’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $73.73, for a total transaction of $49,988.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Majoros sold 400 shares of Envestnet stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $75.33, for a total transaction of $30,132.00. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its position in Envestnet by 1.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,408 shares of the business services provider’s stock valued at $1,143,000 after acquiring an additional 158 shares in the last quarter. Arizona State Retirement System increased its position in Envestnet by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 14,824 shares of the business services provider’s stock valued at $1,189,000 after acquiring an additional 159 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Envestnet by 2.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,082 shares of the business services provider’s stock valued at $641,000 after acquiring an additional 195 shares in the last quarter. Amalgamated Bank increased its position in Envestnet by 0.6% in the 4th quarter. Amalgamated Bank now owns 38,708 shares of the business services provider’s stock valued at $3,071,000 after acquiring an additional 214 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Envestnet by 0.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 41,017 shares of the business services provider’s stock valued at $3,053,000 after acquiring an additional 226 shares in the last quarter.

About Envestnet (Get Rating)

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that 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.

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