Envestnet, Inc. (NYSE:ENV) Receives $61.88 Consensus Target Price from Brokerages

Shares of Envestnet, Inc. (NYSE:ENV) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $61.88.

A number of equities research analysts have recently weighed in on ENV shares. DA Davidson reissued a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group reissued a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, StockNews.com started coverage on shares of Envestnet in a report on Wednesday, September 25th. They set a “sell” rating on the stock.

Envestnet Price Performance

NYSE ENV opened at $62.61 on Tuesday. The firm’s fifty day simple moving average is $62.46 and its two-hundred day simple moving average is $62.13. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04. The firm has a market capitalization of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same period in the prior year, the firm posted $0.22 earnings per share. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts forecast that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new position in Envestnet during the first quarter valued at $38,000. Innealta Capital LLC acquired a new position in shares of Envestnet in the second quarter worth about $46,000. Quest Partners LLC acquired a new position in shares of Envestnet in the fourth quarter worth about $58,000. Federated Hermes Inc. raised its position in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after acquiring an additional 1,200 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Envestnet in the first quarter worth about $168,000.

About Envestnet

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.