Envestnet return profile just improved following correction, says Jefferies » 16:4702/2302/23/20
Jefferies analyst Surinder Thind lowered his price target for Envestnet to $97 from $96, while keeping a Buy rating on the shares. For investors who were on the fence, the analyst sees the stock as being even more attractively valued following its roughly 10% correction post Q4 results, which optically look worse than underlying fundamentals. Thind believes a divestiture of Yodlee or a sale of the company is a 70% probability event that can bring instant value. If not, fast forward 1 year, and he sees the stock above current levels, propelled by the prospect of returning to 15%-20% earnings growth.
United Airlines, Chase, Visa extend MileagePlus credit card program » 16:1802/2102/21/20
V, JPM, UAL
United Airlines (UAL),…
United Airlines (UAL), Chase Card Services (JPM) and Visa (V) announced a multi-year extension of the United MileagePlus credit card program. The extension continues the more than 30-year relationship between the number one card issuer in the U.S., the U.S. airline with service to the most U.S. cities and most countries around the world. The agreement extends into 2029.
Envestnet downgraded to Neutral from Overweight at Piper Sandler » 09:2802/2102/21/20
Piper Sandler analyst…
Piper Sandler analyst Chris Donat downgraded Envestnet to Neutral from Overweight with an $80 price target following the company's "disappointing" 2020 EPS guidance.
Envestnet downgraded to Neutral on valuation at Compass Point » 08:1302/2102/21/20
Compass Point analyst…
Compass Point analyst Marshall Senk downgraded Envestnet to Neutral from Buy with a $75 price target as he believes a reacceleration in the Yodlee business will be necessary to drive the valuation higher and that is not expected until late this year. Senk noted that the stock had increased by just over 16% over the past few weeks amid speculation that the company had been approached to sell Yodlee into private equity. His sum of the parts valuation work values the business at $85, which Senk notes is well above his "comp driven approach" for his price target.
Envestnet downgraded to Neutral from Buy at Compass Point » 05:4902/2102/21/20
Compass Point analyst…
Compass Point analyst Marshall Senk downgraded Envestnet to Neutral from Buy with a $75 price target.
Fly Intel: After Hours Movers » 19:0302/2002/20/20
EHTH, AERI, ZIXI, BAND, DBX, NCMI, TXRH, SFM, GLOB, SSRM, PRA, CATM, SBAC, FND, BXRX, S, TRUE, FSLR, LTHM, ZS, APPN, CNDT, BOOM, PBYI, BLDR, FSLY, BYD, ENV, CUBE, BJRI, ROG, COG, OLED, OEC, NBR, CVA, VICI, ASPN, FIT
UP AFTER EARNINGS:…
UP AFTER EARNINGS: eHealth (EHTH) up 17.7%... Aeri Pharma (AERI) up 15.1%... Zix Corp (ZIXI) up 11.9%... Bandwidth (BAND) up 11.7%... Drobox (DBX) up 10.9%... National CineMedia (NCMI) up 8.0%... Texas Roadhouse (TXRH) up 7.2%... Sprouts Farmers (SFM) up 6.1%... Globant (GLOB) up 5.1%... SSR Mining (SSRM) up 4.4%... Pro Assurance (PRA) up 3.2%... Cardtronics (CATM) up 2.4%... SBA Communications (SBAC) up 1.9%... Floor&Decor (FND) up 1.4%. ALSO HIGHER: Baudax Bio (BXRX) up 21.5% after FDA approval of Anjeso for pain management... Sprint (S) up 5.2% after modifying T-Mobile combination closing as early as Apr. 1st. DOWN AFTER EARNINGS: TrueCar (TRUE) down 23.5%... First Solar (FSLR) down 13.7%... Livent Corp (LTHM) down 13.2%... Zscaler (ZS) down 12.3%... Appian Corp (APPN) down 10.6%... Conduent (CNDT) down 9.7%... DMC Global (BOOM) down 9.7%... Puma Biotechnology (PBYI) down 8.1%... Builders FirstSource (BLDR) down 7.7%... Fastly (FSLY) down 5.7%... Boyd Gaming (BYD) down 5.0%... Envestnet (ENV) down 4.3%... CubeSmart (CUBE) down 4.1%... BJ's Restaurants (BJRI) down 3.9%... Rogers Corp (ROG) down 3.9%... Cabot Oil (COG) down 3.8%... Universal Displays (OLED) down 2.9%... Orion Engineered Carbons (OEC) down 2.6%... Nabors (NBR) down 2.6%... Covanta Holding (CVA) down 2.4%... Vici Properties (VICI) down 1.9%... Aspen Aerogels (ASPN) down 1.6%... Fitbit (FIT) down 1.2%. Movers as of 18:30ET.
Envestnet sees FY20 EPS $2.22-$2.27, consensus $2.60 » 16:0702/2002/20/20
Sees FY revenue…
Sees FY revenue $1.02B-$1.03B, consensus $1.04B.
Envestnet sees Q1 EPS 45c, consensus 56c » 16:0602/2002/20/20
Sees Q1 revenue…
Sees Q1 revenue $241.7M-$243.7M, consensus $246.16M.
Envestnet reports Q4 EPS 69c, consensus 68c » 16:0602/2002/20/20
Reports Q4 revenue…
Reports Q4 revenue $239.9M, consensus $239.81M. "Envestnet had an unprecedented year in 2019. We experienced a great tragedy. We stood up, moved forward and remained committed to the vision of building the operating system for financial wellness powered by our data infrastructure which enables financial advisors and their firms to help millions of American households achieve their financial goals and aspirations. In the fourth quarter, we grew revenue 14%, adjusted EBITDA 30%, and adjusted earnings per share 13% compared to the prior year," said Bill Crager, Interim Chief Executive Officer.
Envestnet downgraded to Neutral from Buy at DA Davidson » 08:1102/1902/19/20
DA Davidson analyst Peter…
DA Davidson analyst Peter Heckmann downgraded Envestnet to Neutral from Buy with an unchanged $81 price target. The analyst notes that his price target has been exceeded due to recent speculation of takeover interest by private equity and strategic buyers, adding that the market has priced in a good portion of these rumors with the stock trading close to its all-time-high valuation on enterprise value to expected EBITDA basis.