Morgan Stanley Begins Coverage on Enfusion (NYSE:ENFN)

Research analysts at Morgan Stanley began coverage on shares of Enfusion (NYSE:ENFN) in a research note issued to investors on Friday, StockNewsAPI reports. The brokerage set an “overweight” rating and a $11.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 21.95% from the stock’s previous close.

Several other research firms also recently issued reports on ENFN. Bank of America boosted their price objective on shares of Enfusion from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lowered shares of Enfusion from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $11.00 to $9.00 in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group lowered shares of Enfusion from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $9.00 to $8.00 in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.33.

Enfusion Price Performance

Shares of Enfusion stock traded down $0.24 during trading hours on Friday, hitting $9.02. The company had a trading volume of 70,833 shares, compared to its average volume of 373,109. The company has a market cap of $1.16 billion, a P/E ratio of 112.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.97. The company’s 50-day moving average is $9.22 and its two-hundred day moving average is $9.17. Enfusion has a twelve month low of $7.37 and a twelve month high of $11.56.

Enfusion (NYSE:ENFN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The firm had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $47.67 million. Enfusion had a return on equity of 10.30% and a net margin of 3.45%. During the same quarter in the previous year, the company posted $0.04 EPS. Sell-side analysts expect that Enfusion will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Enfusion

Hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC bought a new position in shares of Enfusion during the first quarter valued at $176,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Enfusion during the 1st quarter worth approximately $122,000. Swiss National Bank increased its holdings in shares of Enfusion by 20.0% during the 1st quarter. Swiss National Bank now owns 69,700 shares of the company’s stock worth $645,000 after acquiring an additional 11,600 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Enfusion in the 1st quarter valued at $44,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Enfusion during the 1st quarter valued at $452,000. 81.05% of the stock is owned by institutional investors.

About Enfusion

Enfusion, Inc provides software-as-a-service solutions for investment management industry in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company provides Portfolio Management System, which generates a real-time investment book of record that consists of valuation and risk tools, which allows users to analyze aggregated or decomposed portfolio data for chief investment officers (CIOs) and portfolio managers; and Order and Execution Management System that enables portfolio managers, traders, compliance teams, and analysts to electronically communicate trade orders for a variety of asset classes, manage trade orders, and systemically enforce trading regulations and internal guidelines.