Envestnet (NYSE:ENV) Issues Q2 Earnings Guidance

Envestnet (NYSE:ENV) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.60-0.65 for the period, compared to the consensus EPS estimate of $0.63. The company issued revenue guidance of $337-345 million, compared to the consensus revenue estimate of $344.08 million.

Analyst Upgrades and Downgrades

ENV has been the topic of several recent research reports. JMP Securities restated a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Royal Bank of Canada boosted their target price on shares of Envestnet from $56.00 to $64.00 and gave the company a sector perform rating in a report on Wednesday. William Blair restated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. DA Davidson lifted their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Envestnet currently has an average rating of Hold and an average target price of $64.14.

Envestnet Trading Up 1.5 %

NYSE ENV traded up $0.92 on Wednesday, reaching $63.68. The stock had a trading volume of 697,727 shares, compared to its average volume of 489,779. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a fifty day moving average price of $58.05 and a two-hundred day moving average price of $49.90. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -14.57 and a beta of 1.26.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. As a group, sell-side analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Transactions at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction dated Monday, March 25th. The shares were 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 of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company’s stock.

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.