D.A. Davidson analyst Peter Heckmann maintained a Buy rating on Envestnet (ENV – Research Report) today and set a price target of $78.00. The company’s shares closed last Friday at $67.34.
According to TipRanks, Heckmann is a 5-star analyst with an average return of 10.2% and a 59.29% success rate. Heckmann covers the Technology sector, focusing on stocks such as Envestnet, Shift4 Payments, and Alight.
Currently, the analyst consensus on Envestnet is a Moderate Buy with an average price target of $66.00, implying a -1.99% downside from current levels. In a report released on May 8, JMP Securities also reiterated a Buy rating on the stock with a $79.00 price target.
Based on Envestnet’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $317.63 million and a GAAP net loss of $183.17 million. In comparison, last year the company earned a revenue of $292.87 million and had a GAAP net loss of $36.51 million
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENV in relation to earlier this year.
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Envestnet (ENV) Company Description:
Envestnet, Inc. engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the Envestnet and Envestnet/Yodlee business segments. The Envestnet segment provides wealth management software and services to empower financial advisors and institutions. The Envestnet/ Yodlee segment offers a data aggregation and data intelligence platform for digital financial services. The company was founded by Judson Taft Bergman, James Winfield Lumberg and Brandon Rockwell Thomas in 1999 and is headquartered in Chicago, IL.
