Fintel reports that on May 8, 2024, Jefferies upgraded their outlook for Envestnet (NYSE:ENV) from Underperform to Hold.
Analyst Price Forecast Suggests 10.03% Upside
As of May 2, 2024, the average one-year price target for Envestnet is 69.06. The forecasts range from a low of 56.56 to a high of $82.95. The average price target represents an increase of 10.03% from its latest reported closing price of 62.76.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Envestnet is 1,497MM, an increase of 17.70%. The projected annual non-GAAP EPS is 2.79.
What is the Fund Sentiment?
There are 548 funds or institutions reporting positions in Envestnet. This is an decrease of 8 owner(s) or 1.44% in the last quarter. Average portfolio weight of all funds dedicated to ENV is 0.20%, an increase of 6.23%. Total shares owned by institutions increased in the last three months by 3.13% to 69,630K shares. 
The put/call ratio of ENV is 1.24, indicating a bearish outlook.
What are Other Shareholders Doing?
Impactive Capital holds 4,151K shares representing 7.54% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 2,298K shares representing 4.17% ownership of the company. In its prior filing, the firm reported owning 3,030K shares , representing a decrease of 31.85%. The firm decreased its portfolio allocation in ENV by 25.72% over the last quarter.
Van Berkom & Associates holds 2,177K shares representing 3.95% ownership of the company. In its prior filing, the firm reported owning 1,763K shares , representing an increase of 19.03%. The firm increased its portfolio allocation in ENV by 24.23% over the last quarter.
Hsbc Holdings holds 1,825K shares representing 3.31% ownership of the company. In its prior filing, the firm reported owning 9K shares , representing an increase of 99.51%. The firm increased its portfolio allocation in ENV by 2,990.95% over the last quarter.
Brown Advisory holds 1,729K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 1,074K shares , representing an increase of 37.89%. The firm decreased its portfolio allocation in ENV by 11.59% over the last quarter.
Envestnet Background Information
(This description is provided by the company.)
Envestnet, Inc. is transforming the way financial advice and wellness are delivered. Its mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors across more than 5,100 companies-including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies-leverage the Envestnet platform to grow their businesses and client relationships.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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