UBS Maintains a 'Buy' on Envestnet (ENV); Continues Moving Forward

February 24, 2012 2:14 PM EST
Get Alerts ENV Hot Sheet
Price: $36.95 +0.96%

Rating Summary:
    9 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS maintains a 'Buy' on Envestnet (NYSE: ENV) price target raised $1 to $14.00.

UBS analyst says, "ENV posted a solid 4Q11, beating both our EPS estimate and the Street consensus by 2 cents. Relative to our forecast the company reported slightly higher revenue and a higher adjusted EBITDA margin. Solid 4Q results reiterate our favorable view of the ENV story, a pure play on the growth of the independent advisor space. An improving market environment should provide a tailwind at the same time...Lowering FY12 EPS estimate slightly to $0.50 from $0.52 - We also believe ENV’s fee rate is running slightly lower than expected following a shift to lower-yielding reporting solutions." (FY13 raised from $0.67 to $0.78)

For an analyst ratings summary and ratings history on Envestnet click here. For more ratings news on Envestnet click here.

Shares of Envestnet closed at $13.00 yesterday.

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