Envestnet (NYSE:ENV) Updates Q2 Earnings Guidance

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

Analysts Set New Price Targets

ENV has been the subject of several research reports. JMP Securities reaffirmed a market outperform rating and issued a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. Raymond James upped their price target on shares of Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research report on Tuesday, April 2nd. William Blair reiterated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. DA Davidson increased their target price on Envestnet from $62.00 to $67.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Stock Down 1.2 %

Envestnet stock traded down $0.73 during trading on Tuesday, reaching $62.70. 529,568 shares of the company were exchanged, compared to its average volume of 486,920. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. The stock’s 50 day simple moving average is $57.56 and its two-hundred day simple moving average is $49.65. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. As a group, research analysts anticipate that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet 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 transaction, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet 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 purchase, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase 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.