Zacks: Analysts Anticipate Envestnet (ENV) Will Announce Quarterly Sales of $191.53 Million

Brokerages predict that Envestnet (NYSE:ENV) will report $191.53 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Envestnet’s earnings, with the highest sales estimate coming in at $195.60 million and the lowest estimate coming in at $178.40 million. Envestnet posted sales of $157.79 million during the same quarter last year, which suggests a positive year over year growth rate of 21.4%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Envestnet will report full year sales of $808.10 million for the current fiscal year, with estimates ranging from $768.10 million to $821.70 million. For the next year, analysts anticipate that the company will report sales of $885.67 million per share, with estimates ranging from $815.50 million to $911.58 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Envestnet.

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Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The business had revenue of $182.86 million during the quarter, compared to analyst estimates of $179.20 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Envestnet’s revenue was up 17.6% on a year-over-year basis.

A number of equities analysts have weighed in on ENV shares. ValuEngine raised Envestnet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Sandler O’Neill reissued a “hold” rating and issued a $56.00 target price on shares of Envestnet in a research report on Tuesday, April 10th. Finally, Zacks Investment Research lowered Envestnet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.11.

In other news, insider Shelly O’brien sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $53.06, for a total transaction of $159,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Arora sold 7,109 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.80, for a total transaction of $389,573.20. Following the sale, the insider now directly owns 96,386 shares of the company’s stock, valued at approximately $5,281,952.80. The disclosure for this sale can be found here. In the last three months, insiders sold 63,767 shares of company stock valued at $3,711,157. 7.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB purchased a new stake in shares of Envestnet during the 4th quarter valued at about $225,000. Envestnet Asset Management Inc. increased its position in shares of Envestnet by 152.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,850 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 4,139 shares during the last quarter. Ashford Capital Management Inc. increased its position in shares of Envestnet by 32.7% during the 4th quarter. Ashford Capital Management Inc. now owns 320,340 shares of the business services provider’s stock valued at $15,969,000 after purchasing an additional 78,882 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Envestnet during the 4th quarter valued at about $1,007,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of Envestnet during the 4th quarter valued at about $585,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:ENV opened at $53.95 on Friday. Envestnet has a fifty-two week low of $33.30 and a fifty-two week high of $60.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $2,428.56, a price-to-earnings ratio of 61.31, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76.

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About Envestnet

Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides 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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