Envestnet (NYSE:ENV) Price Target Increased to $84.00 by Analysts at JMP Securities

Envestnet (NYSE:ENV) had its price target hoisted by JMP Securities from $75.00 to $84.00 in a research report report published on Tuesday morning, The Fly reports. JMP Securities currently has a market outperform rating on the business services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Envestnet from $72.00 to $76.00 in a research note on Tuesday, May 12th. JPMorgan Chase & Co. reduced their price objective on Envestnet from $75.00 to $69.00 and set a neutral rating on the stock in a research note on Wednesday, April 29th. Royal Bank of Canada reissued a hold rating and issued a $68.00 target price on shares of Envestnet in a report on Sunday, May 10th. Stifel Nicolaus dropped their price objective on shares of Envestnet from $80.00 to $72.00 and set a buy rating for the company in a research note on Monday, May 4th. Finally, DA Davidson lowered their price target on shares of Envestnet from $76.00 to $68.00 in a report on Friday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Envestnet currently has a consensus rating of Hold and a consensus price target of $75.82.

NYSE ENV opened at $76.58 on Tuesday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -696.18 and a beta of 1.76. Envestnet has a 1-year low of $45.53 and a 1-year high of $87.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $73.54 and a 200-day moving average of $69.08.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The firm had revenue of $246.50 million during the quarter, compared to analysts’ expectations of $242.32 million. Envestnet had a positive return on equity of 8.94% and a negative net margin of 0.66%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities research analysts forecast that Envestnet will post 1.28 earnings per share for the current year.

In related news, COO Joshua Mayer sold 2,017 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $74.04, for a total transaction of $149,338.68. Following the sale, the chief operating officer now owns 19,991 shares in the company, valued at approximately $1,480,133.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Brandon Thomas sold 13,098 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $74.38, for a total value of $974,229.24. Following the sale, the executive now directly owns 282,570 shares of the company’s stock, valued at approximately $21,017,556.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,503 shares of company stock worth $3,277,027. Insiders own 2.44% of the company’s stock.

Several institutional investors have recently bought and sold shares of ENV. Norges Bank acquired a new stake in shares of Envestnet during the 4th quarter worth approximately $35,580,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Envestnet in the first quarter worth $10,762,000. Champlain Investment Partners LLC increased its stake in Envestnet by 19.2% in the fourth quarter. Champlain Investment Partners LLC now owns 1,175,165 shares of the business services provider’s stock valued at $81,827,000 after purchasing an additional 188,990 shares in the last quarter. Strycker View Capital LLC acquired a new position in shares of Envestnet during the fourth quarter valued at about $12,161,000. Finally, Spyglass Capital Management LLC boosted its position in shares of Envestnet by 70.0% during the 1st quarter. Spyglass Capital Management LLC now owns 399,610 shares of the business services provider’s stock worth $21,491,000 after purchasing an additional 164,526 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

About Envestnet

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.

See Also: Net Margin

The Fly

Analyst Recommendations for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.