Envestnet, Inc (NYSE:ENV) Issues Q3 Earnings Guidance
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 analysts have commented on the stock. BidaskClub cut shares of Envestnet from a buy rating to a hold rating in a research report on Friday. Jefferies Group LLC reiterated a buy rating and set a $48.00 price target on shares of Envestnet in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Envestnet from a strong sell rating to a buy rating and set a $43.00 price target on the stock in a research report on Tuesday, July 11th. DA Davidson assumed coverage on shares of Envestnet in a research report on Thursday, July 6th. They set a neutral rating and a $42.00 price target on the stock. Finally, William Blair reiterated a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $43.60.
Shares of Envestnet, Inc (ENV) traded down 1.42% on Tuesday, hitting $38.25. 212,431 shares of the stock traded hands. The firm has a 50 day moving average price of $38.88 and a 200 day moving average price of $36.60. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $41.47. The firm’s market cap is $1.68 billion.
Envestnet (NYSE:ENV) last released its earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $157.80 million for the quarter, compared to the consensus estimate of $155.56 million. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities analysts forecast that Envestnet, Inc will post $1.25 EPS for the current year.
In other news, insider Anil Arora sold 8,980 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $359,200.00. Following the transaction, the insider now owns 68,609 shares of the company’s stock, valued at approximately $2,744,360. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $39.80, for a total value of $29,690.80. Following the transaction, the director now directly owns 801 shares in the company, valued at approximately $31,879.80. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,968 shares of company stock worth $145,287 and have sold 32,972 shares worth $1,300,284. Insiders own 5.58% of the company’s stock.
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.
Receive News & Ratings for Envestnet Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet Inc and related companies with MarketBeat.com's FREE daily email newsletter.