Q1 2024 EPS Estimates for Envestnet, Inc. Lowered by Analyst (NYSE:ENV)

Envestnet, Inc. (NYSE:ENV) – Analysts at William Blair reduced their Q1 2024 EPS estimates for Envestnet in a research note issued to investors on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the business services provider will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.37. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Envestnet’s current full-year earnings is $1.78 per share. William Blair also issued estimates for Envestnet’s Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.78 EPS and FY2025 earnings at $2.15 EPS.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. JMP Securities restated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a report on Tuesday, April 9th. DA Davidson raised their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Envestnet presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Envestnet Trading Down 2.9 %

Shares of ENV stock opened at $57.30 on Monday. Envestnet has a 12-month low of $33.12 and a 12-month high of $66.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $54.10 and its 200 day moving average is $47.35. The stock has a market capitalization of $3.14 billion, a P/E ratio of -13.11 and a beta of 1.31.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%.

Insider Activity at Envestnet

In related news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. 9.20% of the stock is owned by corporate insiders.

Institutional Trading of Envestnet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Envestnet in the 3rd quarter worth about $45,000. McIlrath & Eck LLC increased its holdings in shares of Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after buying an additional 469 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Envestnet in the 4th quarter worth about $58,000. State of Tennessee Treasury Department bought a new stake in shares of Envestnet in the 2nd quarter worth about $59,000. Finally, Covestor Ltd increased its holdings in shares of Envestnet by 86.2% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after buying an additional 647 shares during the last quarter.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.