Envestnet (NYSE:ENV) Updates Q4 2021 Earnings Guidance

Envestnet (NYSE:ENV) updated its fourth quarter 2021 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.490-$0.490 for the period, compared to the Thomson Reuters consensus estimate of $0.480. The company issued revenue guidance of $310 million-$312 million, compared to the consensus revenue estimate of $308.45 million.Envestnet also updated its FY 2021 guidance to $2.410-$2.410 EPS.

A number of research firms have recently issued reports on ENV. Raymond James boosted their target price on Envestnet from $93.00 to $101.00 and gave the company a strong-buy rating in a report on Tuesday, November 9th. Royal Bank of Canada increased their target price on Envestnet from $84.00 to $89.00 and gave the stock a sector perform rating in a report on Tuesday, November 9th. JMP Securities reaffirmed a buy rating and set a $97.00 price target (up from $94.00) on shares of Envestnet in a research note on Tuesday, November 9th. Finally, TheStreet upgraded Envestnet from a c rating to a b- rating in a report on Thursday, November 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Envestnet has an average rating of Buy and an average target price of $87.29.

Shares of Envestnet stock traded up $0.04 during trading hours on Thursday, reaching $79.60. 108,556 shares of the company’s stock were exchanged, compared to its average volume of 480,249. The business’s 50 day moving average is $80.29. Envestnet has a fifty-two week low of $61.00 and a fifty-two week high of $88.45. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.35 billion, a PE ratio of 173.05 and a beta of 1.22.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Monday, November 8th. The business services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $303.10 million during the quarter, compared to the consensus estimate of $300.78 million. Envestnet had a net margin of 2.27% and a return on equity of 11.64%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. Equities analysts predict that Envestnet will post 1.62 earnings per share for the current year.

A hedge fund recently raised its stake in Envestnet stock. LPL Financial LLC raised its stake in Envestnet, Inc. (NYSE:ENV) by 59.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,412 shares of the business services provider’s stock after acquiring an additional 4,613 shares during the quarter. LPL Financial LLC’s holdings in Envestnet were worth $995,000 at the end of the most recent reporting period. Institutional investors own 99.93% of the company’s stock.

About Envestnet

Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.

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Earnings History and Estimates for Envestnet (NYSE:ENV)

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