Envestnet (ENV) Scheduled to Post Quarterly Earnings on Tuesday

Envestnet (NYSE:ENV) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Envestnet to post earnings of $0.54 per share for the quarter. Envestnet has set its Q1 guidance at $0.52-$0.57 EPS and its Q1 2024 guidance at 0.520-0.570 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $312.24 million. On average, analysts expect Envestnet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Envestnet Trading Up 1.1 %

Shares of Envestnet stock opened at $62.83 on Tuesday. The business’s 50 day simple moving average is $56.32 and its 200 day simple moving average is $48.90. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Insider Buying and Selling at Envestnet

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENV. Royal Bank of Canada lifted their target price on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Raymond James lifted their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Envestnet currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

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.