$171.40 Million in Sales Expected for Envestnet, Inc (ENV) This Quarter
Wall Street analysts expect Envestnet, Inc (NYSE:ENV) to announce $171.40 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Envestnet’s earnings, with estimates ranging from $171.00 million to $172.20 million. Envestnet reported sales of $149.16 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.9%. The firm is expected to report its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Envestnet will report full year sales of $171.40 million for the current financial year, with estimates ranging from $670.20 million to $674.20 million. For the next financial year, analysts anticipate that the firm will post sales of $765.91 million per share, with estimates ranging from $751.80 million to $776.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share.
A number of research firms recently issued reports on ENV. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 target price (up from $45.00) on shares of Envestnet in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. raised their price target on shares of Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, DA Davidson assumed coverage on shares of Envestnet in a research report on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.50.
Shares of Envestnet (NYSE ENV) opened at 43.00 on Friday. Envestnet has a 52 week low of $30.80 and a 52 week high of $45.18. The firm’s market capitalization is $1.89 billion. The stock has a 50 day moving average price of $40.54 and a 200 day moving average price of $37.19.
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In other Envestnet news, Director Charles Roame bought 1,473 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $35.38 per share, for a total transaction of $52,114.74. Following the transaction, the director now owns 1,729 shares in the company, valued at $61,172.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $39.80, for a total transaction of $29,690.80. Following the sale, the director now owns 801 shares in the company, valued at $31,879.80. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,949 shares of company stock worth $146,288 and have sold 34,472 shares worth $1,365,774. 7.80% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Envestnet during the fourth quarter valued at about $5,831,000. Teachers Advisors LLC increased its position in shares of Envestnet by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 67,770 shares of the business services provider’s stock valued at $2,389,000 after buying an additional 741 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Envestnet by 21.4% in the first quarter. Nationwide Fund Advisors now owns 281,018 shares of the business services provider’s stock valued at $9,077,000 after buying an additional 49,532 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Envestnet by 22.9% in the first quarter. First Mercantile Trust Co. now owns 14,708 shares of the business services provider’s stock valued at $475,000 after buying an additional 2,742 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Envestnet by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 158,838 shares of the business services provider’s stock valued at $5,130,000 after buying an additional 3,800 shares in the last quarter.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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