Envestnet, Inc. (NYSE:ENV) Receives $61.88 Average Price Target from Brokerages

Shares of Envestnet, Inc. (NYSE:ENV) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $61.88.

ENV has been the topic of several recent analyst reports. StockNews.com initiated coverage on Envestnet in a research note on Wednesday. They issued a “sell” rating on the stock. DA Davidson reissued a “neutral” rating and set a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENV. Innealta Capital LLC acquired a new position in Envestnet during the 2nd quarter worth about $46,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Envestnet during the third quarter worth $71,000. Quest Partners LLC lifted its stake in shares of Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares during the period. SG Americas Securities LLC acquired a new stake in Envestnet in the first quarter worth about $168,000. Finally, Federated Hermes Inc. raised its holdings in Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,200 shares during the last quarter.

Envestnet Stock Down 0.0 %

NYSE ENV opened at $63.07 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $62.73 and its two-hundred day moving average is $63.11. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.22 and a beta of 1.25. Envestnet has a 1-year low of $36.43 and a 1-year high of $73.04.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.