Stifel Nicolaus Remains a Buy on Envestnet (ENV)

By Ryan Adsit

Stifel Nicolaus analyst David Grossman maintained a Buy rating on Envestnet (ENVResearch Report) today and set a price target of $80.00. The company’s shares closed last Monday at $79.38.

According to TipRanks.com, Grossman is a 5-star analyst with an average return of 18.2% and a 75.0% success rate. Grossman covers the Technology sector, focusing on stocks such as Epam Systems, TriNet Group, and Accenture.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Envestnet with a $82.43 average price target, implying a 1.8% upside from current levels. In a report issued on February 9, Jefferies also maintained a Buy rating on the stock with a $97.00 price target.

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The company has a one-year high of $87.75 and a one-year low of $51.00. Currently, Envestnet has an average volume of 360K.

Based on the recent corporate insider activity of 183 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENV in relation to earlier this year. Most recently, in December 2019, Scott Grinis, the CTO of ENV sold 18,195 shares for a total of $1,297,929.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.