Envestnet (NYSE:ENV – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.300-$2.400 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.540. The company issued revenue guidance of $1.36 billion-$1.39 billion, compared to the consensus revenue estimate of $1.36 billion.Envestnet also updated its Q1 2022 guidance to $0.440-$0.450 EPS.
Shares of Envestnet stock traded up $1.09 on Friday, hitting $76.31. 528,006 shares of the company’s stock traded hands, compared to its average volume of 551,730. The firm’s 50-day moving average price is $72.30 and its two-hundred day moving average price is $77.19. The stock has a market capitalization of $4.18 billion, a PE ratio of 317.97 and a beta of 1.22. Envestnet has a one year low of $64.70 and a one year high of $85.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.96 and a quick ratio of 1.96.
Envestnet (NYSE:ENV – Get Rating) last issued its earnings results on Thursday, February 24th. The business services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $319.60 million for the quarter, compared to the consensus estimate of $311.62 million. Envestnet had a net margin of 1.12% and a return on equity of 10.86%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts forecast that Envestnet will post 1.51 earnings per share for the current fiscal year.
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Several analysts have commented on ENV shares. Truist Financial dropped their target price on shares of Envestnet from $95.00 to $90.00 and set a buy rating for the company in a research report on Monday, March 7th. DA Davidson upgraded shares of Envestnet from a neutral rating to a buy rating and set a $86.00 target price for the company in a research report on Friday, February 25th. JMP Securities upped their price objective on shares of Envestnet from $97.00 to $101.00 and gave the company a market outperform rating in a research report on Monday, January 10th. Zacks Investment Research cut shares of Envestnet from a hold rating to a strong sell rating and set a $60.00 price objective for the company. in a research report on Thursday, March 3rd. Finally, TheStreet cut shares of Envestnet from a b- rating to a c+ rating in a research report on Monday, November 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $84.29.
In other news, President Stuart Depina sold 16,422 shares of the stock in a transaction dated Monday, December 27th. The shares were sold at an average price of $81.94, for a total transaction of $1,345,618.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.41% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Envestnet by 19.8% during the 4th quarter. Deutsche Bank AG now owns 171,288 shares of the business services provider’s stock worth $13,589,000 after buying an additional 28,338 shares during the last quarter. California State Teachers Retirement System lifted its stake in Envestnet by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 75,774 shares of the business services provider’s stock valued at $6,012,000 after purchasing an additional 1,823 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Envestnet by 4.4% in the 4th quarter. Parametric Portfolio Associates LLC now owns 74,874 shares of the business services provider’s stock valued at $5,941,000 after purchasing an additional 3,154 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in Envestnet in the 4th quarter valued at about $3,967,000. Finally, Thrivent Financial for Lutherans lifted its stake in Envestnet by 1.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,408 shares of the business services provider’s stock valued at $1,143,000 after purchasing an additional 158 shares during the last quarter.
About Envestnet (Get Rating)
Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.
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