Envestnet Reports Second Quarter 2015 Financial Results
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Envestnet (ENV) PT Cut to $32 at UBS; Acquisition Out of Line With Investors' Expectations
August 12, 2015 8:59 AM EDTUBS analyst Alex Kramm reiterated a Neutral rating and slashed his price target on Envestnet (NYSE: ENV) to $32.00 (from $55.00) following in-line Q2 but the Yodlee acquisition was out of line with investors' expectations.
Kramm commented, "While 2Q financial results met expectations, asset growth metrics... More
Envestnet (ENV) Tops Q2 EPS by 1c; Will Acquire Yodlee (YDLE) in $660M Deal
August 10, 2015 4:24 PM EDTEnvestnet (NYSE: ENV) reported Q2 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $102.7 million versus the consensus estimate of $101.98 million.
The company and Yodlee, Inc. (Nasdaq: YDLE) also announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Envestnet will acquire all of the shares of Yodlee in a cash and stock transaction valued at $18.88 per share, or approximately $660 million on a fully-diluted equity value basis. As Yodlee has approximately $70 million in cash and cash... More
