Q2 2021 EPS Estimates for Envestnet, Inc. Lowered by Jefferies Financial Group (NYSE:ENV)

Envestnet, Inc. (NYSE:ENV) – Analysts at Jefferies Financial Group reduced their Q2 2021 earnings estimates for shares of Envestnet in a research note issued to investors on Tuesday, April 6th. Jefferies Financial Group analyst S. Thind now forecasts that the business services provider will earn $0.32 per share for the quarter, down from their prior estimate of $0.33. Jefferies Financial Group has a “Buy” rating and a $95.00 price target on the stock. Jefferies Financial Group also issued estimates for Envestnet’s Q1 2022 earnings at $0.28 EPS and Q2 2022 earnings at $0.36 EPS.

A number of other research firms have also issued reports on ENV. Raymond James dropped their target price on Envestnet from $105.00 to $91.00 and set a “strong-buy” rating on the stock in a report on Thursday, March 4th. William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Friday, February 26th. The Goldman Sachs Group began coverage on shares of Envestnet in a research report on Wednesday, January 6th. They set a “neutral” rating and a $91.00 target price on the stock. Truist initiated coverage on shares of Envestnet in a research report on Friday, December 18th. They set a “buy” rating and a $95.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on Envestnet from $96.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Friday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.20.

Shares of Envestnet stock opened at $74.03 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $4.01 billion, a P/E ratio of -569.46 and a beta of 1.51. Envestnet has a 1 year low of $50.04 and a 1 year high of $92.51. The company’s fifty day moving average is $72.96 and its two-hundred day moving average is $79.00.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 25th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.45 by $0.24. The company had revenue of $263.82 million for the quarter, compared to analyst estimates of $258.17 million. Envestnet had a positive return on equity of 10.44% and a negative net margin of 0.69%.

A number of large investors have recently added to or reduced their stakes in ENV. James Investment Research Inc. purchased a new stake in shares of Envestnet during the fourth quarter worth about $33,000. Marshall Wace LLP acquired a new stake in shares of Envestnet during the 1st quarter worth $50,000. Fieldpoint Private Securities LLC purchased a new position in shares of Envestnet in the 4th quarter worth $110,000. Nisa Investment Advisors LLC boosted its holdings in Envestnet by 17.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,055 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 300 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Envestnet during the fourth quarter valued at about $205,000.

About Envestnet

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 Welth Solutions and Envestnet Data & Analytics segments. The company's product and services 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

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Earnings History and Estimates for Envestnet (NYSE:ENV)

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