Envestnet (NYSE:ENV) Earns “Neutral” Rating from DA Davidson

Envestnet (NYSE:ENV)‘s stock had its “neutral” rating reissued by analysts at DA Davidson in a research note issued on Wednesday, Benzinga reports. They presently have a $63.00 target price on the business services provider’s stock. DA Davidson’s price target indicates a potential upside of 0.77% from the company’s current price.

Several other equities analysts also recently weighed in on ENV. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com assumed coverage on Envestnet in a report on Tuesday. They issued a “sell” rating on the stock. William Blair restated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Finally, UBS Group restated a “neutral” rating and issued a $63.15 price objective (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Trading Down 0.2 %

NYSE ENV traded down $0.13 during trading hours on Wednesday, hitting $62.52. 99,141 shares of the company’s stock were exchanged, compared to its average volume of 677,594. The business’s 50 day moving average is $62.31 and its 200-day moving average is $61.61. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04. The firm has a market capitalization of $3.45 billion, a P/E ratio of -17.56 and a beta of 1.25. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14.

Envestnet (NYSE:ENV) last released its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

Several hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new stake in Envestnet during the 1st quarter valued at approximately $38,000. Innealta Capital LLC acquired a new stake in Envestnet during the 2nd quarter valued at approximately $46,000. Quest Partners LLC acquired a new stake in Envestnet during the 4th quarter valued at approximately $58,000. Federated Hermes Inc. grew its stake in Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,200 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Envestnet during the 1st quarter valued at approximately $168,000.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.