Envestnet (NYSE:ENV) Issues Q2 Earnings Guidance

Envestnet (NYSE:ENV - Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.60-0.65 for the period, compared to the consensus estimate of $0.63. The company issued revenue guidance of $337-345 million, compared to the consensus revenue estimate of $344.08 million.

Envestnet Price Performance

Shares of ENV stock traded down $0.73 during trading hours on Tuesday, hitting $62.70. 529,568 shares of the company's stock were exchanged, compared to its average volume of 486,920. The firm has a 50 day moving average of $57.80 and a two-hundred day moving average of $49.81. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $68.83. The firm has a market cap of $3.44 billion, a P/E ratio of -14.35 and a beta of 1.26. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. Sell-side analysts forecast that Envestnet will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

ENV has been the subject of a number of research analyst reports. JMP Securities reissued a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. William Blair restated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. StockNews.com lowered shares of Envestnet from a hold rating to a sell rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Finally, Raymond James upped their price objective on shares of Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research note 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.com, the company currently has an average rating of Moderate Buy and a consensus price target of $63.67.

Insider Buying and Selling

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

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.