Goldman Sachs launched its Envestnet [ENV] rating to the equivalent of Neutral and assigned the price target of $91, in a research note dated 2021-01-06. That figure represents around a 12.83% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Piper Sandler’s analysts downgrading the shares from “an Overweight” rating to “a Neutral” rating in a research note to investors issued in late February. Meanwhile, Compass Point had lowered its rating on ENV to “Neutral” from the earlier “Buy”, in a research note produced for clients February 21, 2020. In addition, there was a downgrade from DA Davidson on February 19, 2020. The rater changed ENV from “a Buy” to “a Neutral”.
Is Envestnet Inc. [NYSE:ENV] a Good Buy Right Now?
It should be noted that ENV technical indicators for short, intermediate as well as long term progress have placed an overall average of 64% as Buy. The average signal changed from 88% Buy in the last week and compares with 40% Buy in the past month. Data from Envestnet Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is 0.32 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.34 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.37 million shares.
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ENV Price Performance
On Wall Street, Envestnet Inc. [NYSE:ENV] finished Tuesday’s session up 1.03% at $80.70. The stock went up to $81.655 at the same session while its lowest single day price was $79.02. In the last five days, it saw a fall of about -2.38%, Envestnet Inc. shares dropped by almost -1.93% since the beginning of the year. However, the share price has dropped to as low as -12.77% below its one year high. On 01/04/21, the company shares recorded $82.96, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $79.02. The company’s shares have inclined by 11.83% in the past year. The 50-day SMA achieved is $80.17 while the 200-day SMA is $74.67. Volume gained to 0.73 million from 0.38 million in the previous session.
ENV Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 79.26 level, and in case of violation of this particular level, it will cause more drop to 77.82 level. On the upper level, 83.09 is still the key resistance. The stock may increase to the subsequent resistance at 81.90. The Relative Strength Index (RSI) pinned on the 14-day chart is 46.95, implying a neutral technical stance while the MACD stands at -1.51, meaning price will decrease in the next trading period. Percent R indicator moved to 74.45%, implying bearish price movement. Stochastic %K at 26.89% suggest selling the stock.
What is the short interest in Envestnet Inc.?
Short interest in the Envestnet Inc. stock has surged, increasing by 0.21 million shares to total 2.11 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.32 million, data from Yahoo Finance shows. The decrease of -9.95% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.50% of the overall float for the stock.
Envestnet Inc.’s Biggest Shareholders: Who Owns Envestnet Inc. [ENV]?
Filings by BlackRock Financial Management, I showed that the firm now holds a total of 4,745,449 shares or roughly 8.80% of the outstanding ENV shares. This means their shares have increased by 2,355,855 from the 4,745,449 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $366,814,365. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -4.71% stake valued at $278,075,698 while Wells Capital Management, Inc. cut theirs at $269,607,225. During the last quarter, BlackRock Fund Advisors liquidated -171,105 of its shares in Envestnet Inc. while Wells Capital Management, Inc. sold -321,962 shares. The Janus Capital Management LLC’s holdings currently number 2,231,740 shares at $180101418.0. According to the firm’s last 13F report, JPMorgan Investment Management, I shares in the company at filing stood at 2,041,122 shares, roughly $163,820,452.
ENV Earnings Forecast For The Current Quarter
Envestnet Inc. [ENV] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $257.8M and an earnings per share of $0.64 for Dec 2020. Looking further ahead, the company is expected to report revenue of $265.2M at an EPS of $0.59 for Mar 2021. The estimates represent upside of 10.20% and 6.63% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ENV Earnings Estimates For The Current Year
For the financial year, Envestnet Inc. [NYSE:ENV] is expected to bring in revenue of $987.78M. The returns are nearly $78.38 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.49, higher than that of FY19 by $0.34. Estimates put this year’s earnings growth at 15.80%, 7.60% for the next, and at an annual 15.00% over the next 5-year period. As for sales, forecasts are for an increase of 8.60% in the current fiscal year and a further 10.20% over the following year.