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.
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.
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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