Envestnet (NYSE:ENV) Price Target Raised to $60.00 at JPMorgan Chase & Co.

Envestnet (NYSE:ENVGet Rating) had its price objective boosted by JPMorgan Chase & Co. from $53.00 to $60.00 in a report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other analysts have also recently weighed in on ENV. Raymond James cut shares of Envestnet from a strong-buy rating to an outperform rating and increased their price target for the company from $63.00 to $71.00 in a research note on Friday, January 6th. DA Davidson lifted their target price on Envestnet from $70.00 to $74.00 in a research report on Wednesday, January 4th. Jefferies Financial Group lowered their price target on Envestnet from $71.00 to $40.00 in a report on Monday, November 7th. StockNews.com downgraded Envestnet from a hold rating to a sell rating in a research report on Saturday, November 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Envestnet from $65.00 to $56.00 and set a neutral rating on the stock in a research report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Envestnet presently has a consensus rating of Hold and an average target price of $65.78.

Envestnet Stock Performance

Shares of Envestnet stock opened at $66.49 on Monday. The business’s 50 day moving average price is $60.90 and its 200 day moving average price is $54.65. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -74.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.64 and a current ratio of 0.64. Envestnet has a one year low of $41.72 and a one year high of $84.58.

Envestnet (NYSE:ENVGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The business services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.16 by $0.08. Envestnet had a positive return on equity of 6.59% and a negative net margin of 3.91%. The business had revenue of $306.70 million for the quarter, compared to analyst estimates of $302.87 million. On average, research analysts predict that Envestnet will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Envestnet

Several large investors have recently added to or reduced their stakes in ENV. CWM LLC boosted its holdings in Envestnet by 156.8% in the second quarter. CWM LLC now owns 796 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 486 shares during the period. Hartford Financial Management Inc. boosted its stake in shares of Envestnet by 34.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,206 shares of the business services provider’s stock valued at $64,000 after buying an additional 306 shares during the period. Covestor Ltd grew its position in shares of Envestnet by 86.2% during the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after buying an additional 647 shares in the last quarter. FourThought Financial LLC increased its stake in shares of Envestnet by 51.5% during the third quarter. FourThought Financial LLC now owns 2,111 shares of the business services provider’s stock worth $94,000 after buying an additional 718 shares during the period. Finally, Huntington National Bank raised its holdings in Envestnet by 25.0% in the third quarter. Huntington National Bank now owns 2,417 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 483 shares in the last quarter.

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.

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