Envestnet Coverage Initiated by Analysts at Barrington Research (ENV)
Investment analysts at Barrington Research assumed coverage on shares of Envestnet (NYSE:ENV) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
Envestnet (NYSE:ENV) traded up 1.43% during mid-day trading on Tuesday, hitting $36.86. 17,059 shares of the company’s stock traded hands. Envestnet has a 1-year low of $12.73 and a 1-year high of $37.18. The stock’s 50-day moving average is $31.34 and its 200-day moving average is $25.16. The company has a market cap of $1.231 billion and a P/E ratio of 626.55.
Envestnet (NYSE:ENV) last announced its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.07 earnings per share. Envestnet’s revenue was up 36.0% compared to the same quarter last year. On average, analysts predict that Envestnet will post $0.54 earnings per share for the current fiscal year.
In other Envestnet news, major shareholder Aos Partners, Lp sold 4,201,997 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $29.25, for a total transaction of $122,908,412.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
A number of other analysts have also recently weighed in on ENV. Analysts at Sandler O’Neill raised their price target on shares of Envestnet from $27.00 to $37.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Separately, analysts at William Blair initiated coverage on shares of Envestnet in a research note to investors on Monday. They set an “outperform” rating on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Envestnet in a research note to investors on Monday. They set a “buy” rating and a $43.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.00.
Envestnet, Inc (NYSE:ENV) is a provider of wealth management solutions to financial advisors and institutions.
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