Envestnet (ENV) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Envestnet (NYSE:ENV) announced its earnings results on Wednesday. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.01, Analyst Ratings Network reports. The company had revenue of $84.80 million for the quarter, compared to the consensus estimate of $81.76 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 64.0% on a year-over-year basis.
Envestnet (NYSE:ENV) traded up 0.47% on Wednesday, hitting $44.68. 296,689 shares of the company’s stock traded hands. Envestnet has a 52 week low of $24.91 and a 52 week high of $50.38. The stock has a 50-day moving average of $46.60 and a 200-day moving average of $42.21. The company has a market cap of $1.521 billion and a price-to-earnings ratio of 277.94.
ENV has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Envestnet from $45.00 to $57.00 in a research note on Wednesday, July 2nd. They now have a “buy” rating on the stock. On a related note, analysts at Raymond James initiated coverage on shares of Envestnet in a research note on Tuesday, June 24th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.00.
Envestnet, Inc (NYSE:ENV) is a provider of wealth management solutions to financial advisors and institutions.
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