Q1 2024 EPS Estimates for Envestnet, Inc. Reduced by Analyst (NYSE:ENV)

Envestnet, Inc. (NYSE:ENV) – Research analysts at William Blair dropped their Q1 2024 earnings per share (EPS) estimates for Envestnet in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the business services provider will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.37. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Envestnet’s current full-year earnings is $1.78 per share. William Blair also issued estimates for Envestnet’s Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.78 EPS and FY2025 earnings at $2.15 EPS.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million.

A number of other analysts have also recently weighed in on the stock. DA Davidson upped their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. upped their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Trading Up 9.3 %

Shares of ENV opened at $61.82 on Monday. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $68.83. The stock has a fifty day moving average of $54.40 and a two-hundred day moving average of $47.57. The company has a market capitalization of $3.39 billion, a PE ratio of -14.15 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Hedge Funds Weigh In On Envestnet

A number of large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Envestnet in the third quarter valued at approximately $45,000. McIlrath & Eck LLC boosted its holdings in Envestnet by 140.8% during the fourth quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after purchasing an additional 469 shares during the last quarter. Quest Partners LLC acquired a new position in Envestnet during the fourth quarter worth $58,000. State of Tennessee Treasury Department acquired a new position in Envestnet during the second quarter worth $59,000. Finally, Covestor Ltd boosted its holdings in Envestnet by 86.2% during the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after purchasing an additional 647 shares during the last quarter.

Insider Buying and Selling at Envestnet

In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. Company insiders own 8.90% of the company’s stock.

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.