Envestnet, Inc (ENV) Releases Q3 Earnings Guidance
Envestnet, Inc (NYSE:ENV) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.35 for the period, compared to the Thomson Reuters consensus estimate of $0.34. The company issued revenue guidance of $170-172, compared to the consensus revenue estimate of $167.52 million.
Envestnet, Inc (ENV) traded down 1.42% during mid-day trading on Tuesday, reaching $38.25. 212,431 shares of the company’s stock were exchanged. Envestnet, Inc has a 52 week low of $30.80 and a 52 week high of $41.47. The company’s 50 day moving average price is $38.88 and its 200-day moving average price is $36.60. The company’s market capitalization is $1.68 billion.
Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. The company had revenue of $157.80 million for the quarter, compared to analyst estimates of $155.56 million. During the same period in the prior year, the company posted $0.18 EPS. Envestnet’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities research analysts expect that Envestnet, Inc will post $1.25 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on ENV shares. Zacks Investment Research lowered Envestnet from a hold rating to a strong sell rating in a research report on Tuesday, April 25th. Royal Bank Of Canada reaffirmed a hold rating and issued a $40.00 target price on shares of Envestnet in a research report on Thursday, May 11th. BidaskClub raised Envestnet from a hold rating to a buy rating in a research report on Tuesday, June 13th. William Blair reaffirmed a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Finally, DA Davidson started coverage on Envestnet in a research report on Thursday, July 6th. They issued a neutral rating and a $42.00 target price on the stock. Four 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 $43.60.
In related news, insider Anil Arora sold 8,980 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $359,200.00. Following the sale, the insider now directly owns 68,609 shares of the company’s stock, valued at approximately $2,744,360. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Grinis sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total value of $588,150.00. Following the sale, the insider now directly owns 226,454 shares in the company, valued at $8,879,261.34. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,968 shares of company stock worth $145,287 and have sold 32,972 shares worth $1,300,284. Corporate insiders own 5.58% of the company’s stock.
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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