Wall Street analysts expect Envestnet Inc (NYSE:ENV) to post $191.70 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Envestnet’s earnings, with the highest sales estimate coming in at $195.60 million and the lowest estimate coming in at $178.40 million. Envestnet posted sales of $157.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.5%. The firm is expected to announce its next earnings report on Wednesday, May 9th.
On average, analysts expect that Envestnet will report full year sales of $191.70 million for the current year, with estimates ranging from $768.10 million to $821.70 million. For the next financial year, analysts expect that the company will report sales of $889.66 million per share, with estimates ranging from $815.50 million to $925.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Envestnet.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $179.20 million. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. Envestnet’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share.
Several research analysts have commented on the company. Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. UBS Group lowered their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.00.
Shares of Envestnet (NYSE:ENV) traded up $1.05 during midday trading on Friday, reaching $59.00. The company’s stock had a trading volume of 243,215 shares, compared to its average volume of 253,974. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2,623.11, a P/E ratio of -591.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.86. Envestnet has a 12-month low of $30.80 and a 12-month high of $59.70.
In other news, insider Anil Arora sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $53.88, for a total value of $538,800.00. Following the completion of the transaction, the insider now owns 110,731 shares of the company’s stock, valued at $5,966,186.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shelly O’brien sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $50.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Insiders sold 83,896 shares of company stock valued at $4,365,785 in the last ninety days. 5.58% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB acquired a new position in shares of Envestnet in the fourth quarter valued at approximately $225,000. Envestnet Asset Management Inc. increased its stake in shares of Envestnet by 152.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,850 shares of the business services provider’s stock valued at $341,000 after buying an additional 4,139 shares during the period. Ashford Capital Management Inc. increased its position in Envestnet by 32.7% during the 4th quarter. Ashford Capital Management Inc. now owns 320,340 shares of the business services provider’s stock valued at $15,969,000 after purchasing an additional 78,882 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Envestnet during the 4th quarter valued at approximately $1,007,000. Finally, Gotham Asset Management LLC acquired a new stake in Envestnet during the 4th quarter valued at approximately $585,000. 93.21% of the stock is owned by institutional investors.
Envestnet Company Profile
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.
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