Envestnet (ENV) Set to Announce Quarterly Earnings on Tuesday

Envestnet (NYSE:ENV - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Tuesday, May 7th. Analysts expect Envestnet to post earnings of $0.54 per share for the quarter. Envestnet has set its Q1 guidance at $0.52-$0.57 EPS and its Q1 2024 guidance at 0.520-0.570 EPS.Investors that wish to listen to the company's conference call can do so using this link.

Envestnet (NYSE:ENV - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The firm had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. On average, analysts expect Envestnet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Envestnet Price Performance

ENV stock traded down $0.72 on Tuesday, reaching $62.07. 341,712 shares of the company's stock were exchanged, compared to its average volume of 494,388. The stock has a fifty day moving average of $56.32 and a 200-day moving average of $48.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83.

Analysts Set New Price Targets

ENV has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and issued a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. William Blair restated an "outperform" rating on shares of Envestnet in a research report on Wednesday, March 27th. DA Davidson boosted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, February 23rd. Finally, Raymond James lifted their target price on shares of Envestnet from $52.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Insider Activity at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Matthew Majoros sold 700 shares of the business's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company's stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 8.90% of the company's stock.

About Envestnet

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.