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Shares of Envestnet (NYSE:ENV) hit a new 52-week high during mid-day trading on Thursday , American Banking & Market News reports. The stock traded as high as $49.79 and last traded at $49.57, with a volume of 233,448 shares traded. The stock had previously closed at $49.52.

A number of analysts have recently weighed in on ENV shares. Analysts at Raymond James initiated coverage on shares of Envestnet in a research note on Tuesday. They set an “outperform” rating and a $54.00 price target on the stock. Separately, analysts at Sandler O’Neill cut their price target on shares of Envestnet from $45.00 to $38.00 in a research note on Friday, May 9th. They now have a “hold” rating on the stock. Finally, analysts at Stifel Nicolaus cut their price target on shares of Envestnet from $49.00 to $45.00 in a research note on Friday, May 9th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.00.

The stock’s 50-day moving average is $42.30 and its 200-day moving average is $41.0. The company has a market cap of $1.688 billion and a P/E ratio of 309.50.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $78.50 million for the quarter, compared to the consensus estimate of $77.64 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 67.7% on a year-over-year basis. Analysts expect that Envestnet will post $0.74 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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