Envestnet, Inc. (NYSE:ENV) Given Average Recommendation of “Hold” by Brokerages

Shares of Envestnet, Inc. (NYSE:ENV) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $61.88.

ENV has been the topic of several research reports. Jefferies Financial Group raised shares of Envestnet from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. Royal Bank of Canada lifted their price target on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com began coverage on shares of Envestnet in a report on Sunday. They issued a “sell” rating on the stock.

Envestnet Stock Performance

Shares of ENV stock opened at $62.84 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -17.65 and a beta of 1.28. The company’s 50 day moving average is $62.28 and its 200 day moving average is $60.77. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). The business had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. On average, sell-side analysts anticipate that Envestnet will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

Institutional investors and hedge funds have recently made changes to their positions in the stock. YHB Investment Advisors Inc. acquired a new position in Envestnet during the first quarter valued at $38,000. Innealta Capital LLC acquired a new position in Envestnet during the second quarter valued at $46,000. Quest Partners LLC acquired a new position in shares of Envestnet in the fourth quarter worth about $58,000. SG Americas Securities LLC acquired a new position in shares of Envestnet in the first quarter worth about $168,000. Finally, Federated Hermes Inc. raised its position in shares of 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 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.