Zacks: Analysts Anticipate Envestnet, Inc (NYSE:ENV) Will Announce Quarterly Sales of $164.26 Million
Wall Street analysts forecast that Envestnet, Inc (NYSE:ENV) will report $164.26 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Envestnet’s earnings. The highest sales estimate is $165.10 million and the lowest is $163.77 million. Envestnet posted sales of $141.71 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The firm is expected to issue its next earnings results after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Envestnet will report full year sales of $164.26 million for the current year, with estimates ranging from $660.91 million to $667.30 million. For the next financial year, analysts forecast that the business will report sales of $752.89 million per share, with estimates ranging from $745.10 million to $759.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Envestnet.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, May 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $155.56 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Envestnet’s revenue was up 19.5% compared to the same quarter last year.
Several research firms recently weighed in on ENV. BidaskClub downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a report on Friday. DA Davidson began coverage on shares of Envestnet in a report on Thursday, July 6th. They issued a “neutral” rating and a $42.00 target price for the company. William Blair reiterated a “buy” rating on shares of Envestnet in a report on Wednesday, June 28th. Royal Bank Of Canada restated a “hold” rating and issued a $40.00 price target on shares of Envestnet in a research note on Thursday, May 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $48.00 price target on shares of Envestnet in a research note on Friday, July 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Envestnet has an average rating of “Buy” and an average target price of $43.60.
In other Envestnet news, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.20, for a total value of $29,243.20. Following the completion of the transaction, the director now owns 801 shares in the company, valued at $31,399.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Roame purchased 1,473 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average price of $35.38 per share, with a total value of $52,114.74. Following the purchase, the director now owns 1,729 shares of the company’s stock, valued at $61,172.02. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,968 shares of company stock valued at $145,287 and sold 32,972 shares valued at $1,300,284. Insiders own 5.58% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Envestnet during the first quarter valued at approximately $116,000. Parallel Advisors LLC purchased a new position in shares of Envestnet during the first quarter worth approximately $131,000. Gradient Investments LLC purchased a new position in shares of Envestnet during the second quarter worth approximately $191,000. CI Investments Inc. purchased a new position in shares of Envestnet during the first quarter worth approximately $194,000. Finally, Blueport Capital L.P. increased its position in shares of Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock worth $202,000 after buying an additional 2,574 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.
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Envestnet (ENV) opened at 38.80 on Tuesday. The company’s market cap is $1.70 billion. The company has a 50-day moving average price of $38.82 and a 200 day moving average price of $36.56. Envestnet has a 52 week low of $30.80 and a 52 week high of $41.47.
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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