Brokerages Expect Envestnet Inc (ENV) Will Announce Quarterly Sales of $179.42 Million

Brokerages expect Envestnet Inc (NYSE:ENV) to report $179.42 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Envestnet’s earnings, with the lowest sales estimate coming in at $178.90 million and the highest estimate coming in at $180.80 million. Envestnet posted sales of $155.48 million in the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The business is scheduled to report its next earnings report on Thursday, March 22nd.

On average, analysts expect that Envestnet will report full year sales of $179.42 million for the current fiscal year, with estimates ranging from $679.80 million to $681.80 million. For the next fiscal year, analysts expect that the business will post sales of $787.89 million per share, with estimates ranging from $770.00 million to $826.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $175.61 million during the quarter, compared to analyst estimates of $171.57 million. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS.

A number of equities analysts recently weighed in on ENV shares. UBS Group reaffirmed a “buy” rating and issued a $63.00 target price (up from $50.00) on shares of Envestnet in a research note on Monday, October 9th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, October 10th. Jefferies Group upped their target price on shares of Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Envestnet currently has an average rating of “Buy” and an average target price of $55.00.

Envestnet (NYSE ENV) opened at $51.45 on Tuesday. The firm has a market cap of $2,337.13, a price-to-earnings ratio of -41.83, a P/E/G ratio of 2.70 and a beta of 1.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90. Envestnet has a one year low of $30.80 and a one year high of $55.45.

In other Envestnet news, insider Anil Arora sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $53.88, for a total transaction of $538,800.00. Following the sale, the insider now directly owns 110,731 shares of the company’s stock, valued at approximately $5,966,186.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter D’arrigo sold 20,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $48.11, for a total transaction of $962,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 271,694 shares of company stock worth $13,765,436 over the last three months. Insiders own 5.58% of the company’s stock.

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Envestnet by 133.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after buying an additional 1,591 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Envestnet in the 4th quarter valued at about $175,000. Zions Bancorporation bought a new stake in shares of Envestnet in the 3rd quarter valued at about $181,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares during the period. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

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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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