Envestnet (NYSE:ENV) released its quarterly earnings results on Thursday. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02, Briefing.com reports. The business had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS.
NYSE ENV traded up $1.24 during trading hours on Friday, reaching $64.44. The company’s stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. The firm’s 50-day moving average price is $59.77 and its 200-day moving average price is $64.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61. Envestnet has a 1 year low of $46.57 and a 1 year high of $73.94. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.80 and a beta of 1.76.
A number of research analysts recently issued reports on ENV shares. Buckingham Research cut their price objective on Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. ValuEngine downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, DA Davidson boosted their price objective on Envestnet from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.00.
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 and Envestnet | Yodlee segments. The company's product and services suites 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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