Envestnet (NYSE:ENV) Updates FY 2020 After-Hours Earnings Guidance

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.

In related news, CTO Scott D. Grinis sold 30,000 shares of Envestnet stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $71.90, for a total transaction of $2,157,000.00. Following the sale, the chief technology officer now owns 148,893 shares of the company’s stock, valued at approximately $10,705,406.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 1,400 shares of Envestnet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $70.72, for a total value of $99,008.00. Following the sale, the insider now directly owns 12,457 shares in the company, valued at approximately $880,959.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 192,648 shares of company stock worth $13,804,753. Insiders own 4.97% of the company’s stock.

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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