Envestnet Inc (ENV) Expected to Post Quarterly Sales of $164.23 Million
Equities research analysts predict that Envestnet Inc (NYSE:ENV) will announce $164.23 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Envestnet’s earnings. The highest sales estimate is $165.1 million and the lowest is $163.77 million. Envestnet posted sales of $141.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.9%. The business is expected to report its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Envestnet will report full year sales of $164.23 million for the current fiscal year, with estimates ranging from $660.91 million to $667.1 million. For the next fiscal year, analysts anticipate that the firm will report sales of $750.72 million per share, with estimates ranging from $745.1 million to $755.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Envestnet.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $157.80 million for the quarter, compared to analysts’ expectations of $155.56 million. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share.
Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating and issued a $40.00 price objective on shares of Envestnet in a report on Thursday, May 11th. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price target on shares of Envestnet in a research note on Friday, March 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.90.
Envestnet (NYSE:ENV) opened at 35.90 on Friday. The firm’s 50-day moving average is $35.02 and its 200 day moving average is $35.82. The company’s market capitalization is $1.57 billion. Envestnet has a one year low of $30.80 and a one year high of $41.47.
In other news, insider Shelly O’brien sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the transaction, the insider now directly owns 11,751 shares of the company’s stock, valued at $411,285. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anil Arora sold 4,300 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $37.26, for a total value of $160,218.00. Following the transaction, the director now directly owns 71,688 shares of the company’s stock, valued at $2,671,094.88. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,533 shares of company stock worth $50,272 and have sold 30,901 shares worth $1,077,399. 7.80% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Anavon Capital LLP bought a new position in shares of Envestnet during the fourth quarter worth approximately $4,031,000. Radnor Capital Management LLC bought a new position in shares of Envestnet during the fourth quarter worth approximately $615,000. Russell Investments Group Ltd. bought a new position in shares of Envestnet during the fourth quarter worth approximately $5,504,000. Global Alpha Capital Management Ltd. increased its position in shares of Envestnet by 23.3% in the third quarter. Global Alpha Capital Management Ltd. now owns 53,000 shares of the business services provider’s stock worth $1,932,000 after buying an additional 10,000 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of Envestnet by 5.2% in the third quarter. Bamco Inc. NY now owns 70,225 shares of the business services provider’s stock worth $2,560,000 after buying an additional 3,500 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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