Envestnet Inc. Hits New 52-Week High at $31.76 (ENV)
Shares of Envestnet (NYSE:ENV) hit a new 52-week high on Wednesday, American Banking and Market News reports. The company traded as high as $31.76 and last traded at $31.15, with a volume of 69,016 shares trading hands. The stock had previously closed at $30.99.
A number of research firms have recently commented on ENV. Analysts at RBC Capital downgraded shares of Envestnet (NYSE:ENV) from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday. They now have a $34.00 price target on the stock, up previously from $29.00. They noted that the move was a valuation call. Finally, analysts at Sidoti downgraded shares of Envestnet (NYSE:ENV) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 2nd.
Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.00.
Envestnet has a 52 week low of $11.60 and a 52 week high of $31.57. The stock has a 50-day moving average of $28.35 and a 200-day moving average of $23.0. The company has a market cap of $1.043 billion and a price-to-earnings ratio of 534.31.
Envestnet (NYSE:ENV) last announced its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $51.63 million for the quarter, compared to the consensus estimate of $51.21 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. Analysts expect that Envestnet will post $0.54 EPS for the current fiscal year.
Envestnet, Inc (NYSE:ENV) is a provider of wealth management solutions to financial advisors and institutions.
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