Envestnet (NYSE:ENV) Updates Q2 Earnings Guidance

Envestnet (NYSE:ENV) issued an update on its second quarter earnings guidance on Tuesday morning. 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.

Envestnet Stock Performance

Shares of NYSE ENV traded up $2.58 during midday trading on Thursday, hitting $66.34. 414,451 shares of the stock traded hands, compared to its average volume of 488,676. 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 has a one year low of $33.12 and a one year high of $68.83. The firm has a market capitalization of $3.63 billion, a P/E ratio of -14.57 and a beta of 1.26. The firm has a 50-day moving average of $58.05 and a two-hundred day moving average of $49.90.

Envestnet (NYSE:ENV) last released its quarterly earnings results 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 business had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. On average, equities analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Envestnet from an underperform rating to a hold rating and increased their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. 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 report on Tuesday, April 2nd. StockNews.com downgraded Envestnet from a hold rating to a sell rating in a research report on Thursday, May 2nd. Finally, Raymond James lifted their price objective on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $64.14.

Insiders Place Their Bets

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

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.