Envestnet (NYSE:ENV) Releases Q2 Earnings Guidance

Envestnet (NYSE:ENV) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.60-0.65 for the period, compared to the consensus EPS estimate of $0.63. The company issued revenue guidance of $337-345 million, compared to the consensus revenue estimate of $344.08 million.

Envestnet Stock Performance

Shares of Envestnet stock traded up $2.58 during trading on Thursday, reaching $66.34. The company’s stock had a trading volume of 414,451 shares, compared to its average volume of 488,676. The business’s fifty day moving average price is $58.05 and its 200-day moving average price is $49.90. Envestnet has a one year low of $33.12 and a one year high of $68.83. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -14.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. As a group, equities research analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

ENV has been the subject of several research reports. William Blair reissued an outperform rating on shares of Envestnet in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. JMP Securities reaffirmed a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Jefferies Financial Group upgraded Envestnet from an underperform rating to a hold rating and raised their price target for the stock from $47.00 to $59.00 in a research report on Wednesday. Finally, StockNews.com lowered Envestnet from a hold rating to a sell rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Envestnet has a consensus rating of Hold and a consensus target price of $64.14.

Insiders Place Their Bets

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

About Envestnet

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.