Envestnet (NYSE:ENV) Stock Rating Reaffirmed by Jefferies Financial Group


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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.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 25th. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. Envestnet had a negative net margin of 0.69% and a positive return on equity of 10.44%. The firm had revenue of $263.82 million during the quarter, compared to analyst estimates of $258.17 million. On average, analysts expect that Envestnet will post 1.75 EPS for the current fiscal year.

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.

About Envestnet

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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Analyst Recommendations for Envestnet (NYSE:ENV)

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