Envestnet (NYSE:ENV)‘s stock had its “buy” rating reiterated by analysts at Jefferies Financial Group in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $95.00 target price on the business services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 28.33% from the company’s previous close. Jefferies Financial Group also issued estimates for Envestnet’s Q2 2021 earnings at $0.32 EPS, Q1 2022 earnings at $0.28 EPS and Q2 2022 earnings at $0.36 EPS.
A number of other research analysts also recently weighed in on ENV. Truist began coverage on Envestnet in a report on Friday, December 18th. They set a “buy” rating and a $95.00 price target on the stock. The Goldman Sachs Group started coverage on Envestnet in a research note on Wednesday, January 6th. They set a “neutral” rating and a $91.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Envestnet in a research report on Friday, February 26th. Royal Bank of Canada lowered their price objective on shares of Envestnet from $96.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Friday, February 26th. Finally, Raymond James dropped their price objective on shares of Envestnet from $105.00 to $91.00 and set a “strong-buy” rating on the stock in a research note on Thursday, March 4th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.20.
Envestnet stock opened at $74.03 on Thursday. The firm’s 50 day simple moving average is $72.96 and its 200-day simple moving average is $79.00. The company has a market cap of $4.01 billion, a P/E ratio of -569.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 2.13. Envestnet has a fifty-two week low of $50.04 and a fifty-two week high of $92.51.
Several hedge funds have recently added to or reduced their stakes in ENV. Norges Bank bought a new stake in Envestnet in the fourth quarter worth $43,812,000. FIL Ltd lifted its position in shares of Envestnet by 415.0% in the fourth quarter. FIL Ltd now owns 496,989 shares of the business services provider’s stock worth $40,896,000 after buying an additional 400,490 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Envestnet by 47.9% during the 4th quarter. Brown Advisory Inc. now owns 960,274 shares of the business services provider’s stock worth $79,021,000 after acquiring an additional 310,879 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Envestnet by 29.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,259,808 shares of the business services provider’s stock valued at $103,670,000 after acquiring an additional 290,235 shares during the last quarter. Finally, Azora Capital LP bought a new position in shares of Envestnet in the 4th quarter valued at approximately $16,420,000.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet Welth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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