Envestnet, Inc (NYSE:ENV) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.34. The company issued revenue guidance of $170-172, compared to the consensus revenue estimate of $167.52 million.
A number of research firms have commented on ENV. Stifel Nicolaus reaffirmed a buy rating and set a $52.00 price objective (up from $45.00) on shares of Envestnet in a research report on Thursday. DA Davidson began coverage on shares of Envestnet in a research report on Thursday, July 6th. They set a neutral rating and a $42.00 price objective for the company. BidaskClub cut shares of Envestnet from a buy rating to a hold rating in a research report on Friday, August 4th. William Blair reaffirmed a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $45.50.
Envestnet, Inc (ENV) traded down 1.01% during midday trading on Thursday, hitting $44.15. The stock had a trading volume of 105,942 shares. The stock’s market cap is $1.94 billion. The company has a 50-day moving average price of $39.05 and a 200-day moving average price of $36.68. Envestnet, Inc has a 52 week low of $30.80 and a 52 week high of $45.17.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.72%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Equities analysts expect that Envestnet, Inc will post $1.27 EPS for the current year.
In other news, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.20, for a total transaction of $29,243.20. Following the completion of the transaction, the director now owns 801 shares in the company, valued at approximately $31,399.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Roame purchased 1,473 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average price of $35.38 per share, with a total value of $52,114.74. Following the purchase, the director now directly owns 1,729 shares in the company, valued at approximately $61,172.02. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 3,968 shares of company stock valued at $145,287 and have sold 32,972 shares valued at $1,300,284. 7.80% of the stock is currently owned by corporate insiders.
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Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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