Envestnet (NYSE:ENV) announced its quarterly earnings results on Thursday. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Briefing.com reports. The firm had revenue of $236.08 million during the quarter, compared to analysts’ expectations of $233.02 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share.
Shares of NYSE ENV traded up $1.24 during mid-day trading on Friday, reaching $64.44. 762,836 shares of the company were exchanged, compared to its average volume of 327,360. The company’s 50-day simple moving average is $59.77 and its 200-day simple moving average is $64.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.28 billion, a P/E ratio of 51.55, a P/E/G ratio of 2.80 and a beta of 1.76. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94.
A number of research firms have recently issued reports on ENV. DA Davidson raised their target price on shares of Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. ValuEngine cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Buckingham Research cut their target price on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.00.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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