Envestnet, Inc. (NYSE:ENV – Free Report) – Analysts at Zacks Research raised their Q2 2024 EPS estimates for Envestnet in a note issued to investors on Tuesday, October 31st. Zacks Research analyst S. Dey now anticipates that the business services provider will post earnings of $0.36 per share for the quarter, up from their previous estimate of $0.35. The consensus estimate for Envestnet’s current full-year earnings is $1.20 per share.
ENV has been the subject of several other reports. StockNews.com downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. JMP Securities decreased their target price on shares of Envestnet from $80.00 to $78.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 10th. DA Davidson decreased their target price on shares of Envestnet from $72.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. TheStreet downgraded shares of Envestnet from a “c-” rating to a “d+” rating in a research report on Tuesday, September 19th. Finally, Raymond James decreased their target price on shares of Envestnet from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.60.
Envestnet Stock Performance
NYSE:ENV opened at $37.00 on Wednesday. Envestnet has a 12 month low of $35.36 and a 12 month high of $69.22. The firm has a fifty day simple moving average of $45.56 and a 200-day simple moving average of $53.38. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $2.02 billion, a P/E ratio of -17.37 and a beta of 1.30.
Envestnet (NYSE:ENV – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Envestnet had a negative net margin of 8.79% and a positive return on equity of 7.80%. The business had revenue of $312.43 million during the quarter, compared to the consensus estimate of $315.10 million.
Institutional Trading of Envestnet
Institutional investors and hedge funds have recently modified their holdings of the stock. Scissortail Wealth Management LLC purchased a new stake in shares of Envestnet during the first quarter worth about $1,936,921,000. Benjamin Edwards Inc. increased its stake in shares of Envestnet by 135.3% during the first quarter. Benjamin Edwards Inc. now owns 734 shares of the business services provider’s stock worth $43,000 after purchasing an additional 422 shares in the last quarter. McIlrath & Eck LLC increased its stake in shares of Envestnet by 140.8% during the fourth quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after purchasing an additional 469 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in Envestnet during the 2nd quarter valued at about $56,000. Finally, State of Tennessee Treasury Department purchased a new stake in Envestnet during the 2nd quarter valued at about $59,000.
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 Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as 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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