Analysts Expect Envestnet Inc (NYSE:ENV) Will Announce Quarterly Sales of $225.46 Million

Equities analysts expect that Envestnet Inc (NYSE:ENV) will post $225.46 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Envestnet’s earnings. The highest sales estimate is $226.19 million and the lowest is $224.96 million. Envestnet reported sales of $201.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that Envestnet will report full-year sales of $908.96 million for the current financial year, with estimates ranging from $907.28 million to $910.46 million. For the next fiscal year, analysts expect that the firm will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.07 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). Envestnet had a negative net margin of 2.52% and a positive return on equity of 10.28%. The business had revenue of $199.70 million during the quarter, compared to analyst estimates of $201.37 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Envestnet from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $71.00 to $73.00 in a report on Thursday, May 9th. TheStreet lowered Envestnet from a “b” rating to a “c+” rating in a report on Thursday, May 9th. Raymond James raised their price target on Envestnet from $82.00 to $83.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 11th. Buckingham Research lowered Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a report on Thursday, May 9th. Finally, UBS Group raised their price target on Envestnet from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $73.30.

In other Envestnet news, insider Stuart Depina sold 4,805 shares of Envestnet stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total value of $342,164.05. Following the sale, the insider now owns 44,512 shares of the company’s stock, valued at approximately $3,169,699.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joshua Mayer sold 500 shares of Envestnet stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $69.86, for a total value of $34,930.00. Following the completion of the sale, the chief operating officer now directly owns 28,602 shares in the company, valued at approximately $1,998,135.72. The disclosure for this sale can be found here. Insiders sold a total of 120,044 shares of company stock worth $8,407,762 in the last ninety days. 4.97% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors Inc. boosted its holdings in Envestnet by 0.6% in the 1st quarter. Wasatch Advisors Inc. now owns 2,309,363 shares of the business services provider’s stock valued at $151,009,000 after purchasing an additional 13,688 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Envestnet by 0.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 915,377 shares of the business services provider’s stock valued at $62,584,000 after purchasing an additional 3,676 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Envestnet by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 912,274 shares of the business services provider’s stock valued at $59,654,000 after purchasing an additional 3,142 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Envestnet by 21.1% in the 1st quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock valued at $50,111,000 after purchasing an additional 133,585 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in Envestnet by 20.2% in the 1st quarter. Fiera Capital Corp now owns 766,325 shares of the business services provider’s stock valued at $50,110,000 after purchasing an additional 128,805 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors.

Shares of ENV traded down $1.33 during midday trading on Thursday, reaching $70.08. 248,364 shares of the stock were exchanged, compared to its average volume of 277,164. The firm has a 50-day simple moving average of $70.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.03 and a quick ratio of 1.03. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94. The stock has a market cap of $3.49 billion, a P/E ratio of 56.06, a price-to-earnings-growth ratio of 3.15 and a beta of 1.70.

Envestnet Company Profile

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 and Envestnet | Yodlee segments. The company's product and services suites 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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