Analysts Set Envestnet, Inc. (NYSE:ENV) PT at $61.88

Shares of Envestnet, Inc. (NYSE:ENV) have been given an average rating of “Hold” by the eight research firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $61.88.

ENV has been the topic of a number of recent research reports. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group reaffirmed a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. William Blair reiterated a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. StockNews.com initiated coverage on shares of Envestnet in a report on Sunday, September 1st. They issued a “sell” rating for the company. Finally, DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and cut their price target for the company from $78.00 to $63.00 in a report on Thursday, July 18th.

Hedge Funds Weigh In On Envestnet

A number of hedge funds have recently added to or reduced their stakes in ENV. YHB Investment Advisors Inc. bought a new position in Envestnet in the first quarter worth approximately $38,000. Innealta Capital LLC bought a new position in shares of Envestnet during the 2nd quarter worth $46,000. Quest Partners LLC purchased a new position in shares of Envestnet during the fourth quarter valued at $58,000. SG Americas Securities LLC bought a new stake in shares of Envestnet in the first quarter valued at about $168,000. Finally, Federated Hermes Inc. lifted its stake in 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.

Envestnet Trading Down 0.0 %

ENV stock opened at $62.85 on Friday. The firm has a fifty day moving average price of $62.29 and a 200 day moving average price of $60.80. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The firm has a market cap of $3.46 billion, a PE ratio of -17.65 and a beta of 1.28. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14.

Envestnet (NYSE:ENV) last posted its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Envestnet will post 1.76 earnings per share for the current fiscal year.

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.