Raymond James Thinks Envestnet Inc’s Stock is Going to Recover

Raymond James analyst Patrick O’Shaughnessy maintained a Buy rating on Envestnet Inc (ENV) today and set a price target of $60. The company’s shares opened today at $47.87, close to its 52-week low of $46.57.

According to TipRanks.com, O’Shaughnessy is a 5-star analyst with an average return of 7.0% and a 58.3% success rate. O’Shaughnessy covers the Financial sector, focusing on stocks such as Intercontinental Exchange, E*Trade Financial, and Newmark Group Inc.

Envestnet Inc has an analyst consensus of Strong Buy, with a price target consensus of $64.33.

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Based on Envestnet Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.95 million. In comparison, last year the company had a net profit of $17.65 million.

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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.