Envestnet (NYSE:ENV) issued an update on its FY 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.22-2.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.60. The company issued revenue guidance of $1.018-1.028 billion, compared to the consensus revenue estimate of $1.04 billion.Envestnet also updated its FY20 guidance to $2.22-2.27 EPS.
Shares of Envestnet stock traded down $7.44 during midday trading on Friday, reaching $78.99. 1,042,160 shares of the company’s stock traded hands, compared to its average volume of 399,496. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market cap of $4.54 billion, a PE ratio of -225.69 and a beta of 1.78. The stock has a 50 day moving average of $77.20 and a 200-day moving average of $66.34. Envestnet has a 12 month low of $51.00 and a 12 month high of $87.75.
A number of research firms have issued reports on ENV. Raymond James increased their price objective on Envestnet from $83.00 to $95.00 and gave the stock a strong-buy rating in a report on Friday. DA Davidson downgraded Envestnet from a buy rating to a neutral rating in a report on Wednesday. Piper Sandler reaffirmed a neutral rating and set a $80.00 price objective on shares of Envestnet in a research report on Friday. Compass Point cut Envestnet from a buy rating to a neutral rating and set a $75.00 target price on the stock. in a research report on Friday. They noted that the move was a valuation call. Finally, Sandler O’Neill raised Envestnet from a hold rating to a buy rating and lifted their price objective for the company from $66.00 to $80.00 in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $78.33.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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