Envestnet (NYSE:ENV) Releases Q2 Earnings Guidance

Envestnet (NYSE:ENV) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.60-0.65 for the period, compared to the consensus earnings per share estimate of $0.63. The company issued revenue guidance of $337-345 million, compared to the consensus revenue estimate of $344.08 million.

Envestnet Price Performance

NYSE:ENV traded down $0.67 during trading hours on Tuesday, reaching $62.76. 529,562 shares of the stock were exchanged, compared to its average volume of 486,920. The firm has a 50 day simple moving average of $57.56 and a 200-day simple moving average of $49.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a 52 week low of $33.12 and a 52 week high of $68.83.

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, topping analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, research analysts predict that Envestnet will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ENV has been the subject of a number of recent analyst reports. William Blair reiterated an outperform rating on shares of Envestnet in a research report on Wednesday, March 27th. StockNews.com lowered shares of Envestnet from a hold rating to a sell rating in a research note on Thursday, May 2nd. Royal Bank of Canada upped their target price on Envestnet from $47.00 to $56.00 and gave the stock a sector perform rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a market outperform rating and set a $79.00 price target on shares of Envestnet in a research note on Wednesday, April 17th. Finally, DA Davidson lifted their target price on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $63.67.

Insider Transactions at Envestnet

In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction 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 completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 700 shares of Envestnet 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 transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by company insiders.

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.