Equities research analysts predict that Envestnet, Inc. (NYSE:ENV) will announce sales of $258.17 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Envestnet’s earnings, with estimates ranging from $256.63 million to $261.00 million. Envestnet reported sales of $239.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.6%. The company is scheduled to report its next earnings report after the market closes on Thursday, February 25th.
According to Zacks, analysts expect that Envestnet will report full-year sales of $992.92 million for the current fiscal year, with estimates ranging from $991.15 million to $996.00 million. For the next financial year, analysts expect that the company will post sales of $1.11 billion, with estimates ranging from $1.06 billion to $1.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Envestnet.
A number of equities research analysts have recently weighed in on ENV shares. Jefferies Financial Group raised their price target on shares of Envestnet from $76.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 2nd. The Goldman Sachs Group started coverage on shares of Envestnet in a research note on Wednesday, January 6th. They issued a “neutral” rating and a $91.00 price target on the stock. Raymond James raised their price target on shares of Envestnet from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Friday, November 6th. Finally, Truist started coverage on shares of Envestnet in a research note on Friday, December 18th. They issued a “buy” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.73.
A number of large investors have recently bought and sold shares of ENV. Advent International Corp MA boosted its position in Envestnet by 81.0% during the 3rd quarter. Advent International Corp MA now owns 1,513,643 shares of the business services provider’s stock worth $116,793,000 after buying an additional 677,399 shares during the period. FIL Ltd raised its holdings in Envestnet by 415.0% during the 4th quarter. FIL Ltd now owns 496,989 shares of the business services provider’s stock worth $40,896,000 after purchasing an additional 400,490 shares during the last quarter. Brown Advisory Inc. raised its holdings in Envestnet by 47.9% during the 4th quarter. Brown Advisory Inc. now owns 960,274 shares of the business services provider’s stock worth $79,021,000 after purchasing an additional 310,879 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Envestnet by 29.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,259,808 shares of the business services provider’s stock worth $103,670,000 after purchasing an additional 290,235 shares during the last quarter. Finally, Standard Life Aberdeen plc raised its holdings in Envestnet by 33.5% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,115,858 shares of the business services provider’s stock worth $86,100,000 after purchasing an additional 280,021 shares during the last quarter.
ENV stock traded up $2.05 during mid-day trading on Tuesday, hitting $81.24. The stock had a trading volume of 450,129 shares, compared to its average volume of 404,498. The firm has a fifty day simple moving average of $82.58 and a 200 day simple moving average of $81.12. Envestnet has a 52 week low of $45.53 and a 52 week high of $92.51. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.38 billion, a P/E ratio of -615.62 and a beta of 1.51.
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 Welth Solutions and Envestnet Data & Analytics segments. The company's product and services 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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