Envestnet (ENV) Scheduled to Post Quarterly Earnings on Tuesday

Envestnet (NYSE:ENV) will be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Envestnet has set its Q1 guidance at $0.52-$0.57 EPS and its Q1 2024 guidance at 0.520-0.570 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, analysts expect Envestnet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Envestnet Stock Performance

Shares of Envestnet stock opened at $62.96 on Friday. The firm has a market cap of $3.45 billion, a PE ratio of -14.41 and a beta of 1.26. The firm’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $49.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet has a 1 year low of $33.12 and a 1 year high of $68.83.

Insider Buying and Selling

In other news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The stock was 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 $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction that occurred 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 directly owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

ENV has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Royal Bank of Canada increased their price objective 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. JMP Securities reiterated a “market outperform” rating and set a $79.00 price objective on shares of Envestnet in a research note on Wednesday, April 17th. DA Davidson upped their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

About Envestnet

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.