Envestnet (NYSE:ENV) Updates FY20 Earnings Guidance

Envestnet (NYSE:ENV) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $2.22-2.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.61. The company issued revenue guidance of $1.0175-1.0275 billion, compared to the consensus revenue estimate of $1.04 billion.Envestnet also updated its FY 2020
After-Hours guidance to 2.22-2.27 EPS.

Several research firms have weighed in on ENV. Stifel Nicolaus boosted their target price on shares of Envestnet from $74.00 to $80.00 and gave the company a buy rating in a report on Friday. Piper Sandler reiterated a neutral rating and issued a $80.00 target price on shares of Envestnet in a report on Friday. DA Davidson lowered shares of Envestnet from a buy rating to a neutral rating in a report on Wednesday. Raymond James boosted their target price on shares of Envestnet from $83.00 to $95.00 and gave the company a strong-buy rating in a report on Friday. Finally, Sandler O’Neill upgraded shares of Envestnet from a hold rating to a buy rating and boosted their target price for the company from $66.00 to $80.00 in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $78.33.

Shares of Envestnet stock traded down $7.44 on Friday, reaching $78.99. The company had a trading volume of 1,042,160 shares, compared to its average volume of 399,496. The firm’s 50 day moving average price is $77.20 and its two-hundred day moving average price is $66.34. The firm has a market cap of $4.54 billion, a PE ratio of -225.69 and a beta of 1.78. Envestnet has a 52-week low of $51.00 and a 52-week high of $87.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.46 and a current ratio of 0.46.

In other news, insider Shelly O’brien sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.11, for a total value of $328,995.00. Following the sale, the insider now directly owns 23,395 shares of the company’s stock, valued at approximately $1,710,408.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Crager sold 9,094 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $71.55, for a total transaction of $650,675.70. Following the completion of the sale, the chief executive officer now directly owns 232,078 shares in the company, valued at $16,605,180.90. The disclosure for this sale can be found here. Insiders sold a total of 192,648 shares of company stock worth $13,804,753 over the last three months. Insiders own 4.97% of the company’s stock.

Envestnet Company Profile

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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