JMP Securities lowered the firm’s price target on Envestnet to $76 from $78 and keeps an Outperform rating on the shares. Envestnet’s Q3 adjusted EPS was ahead of consensus, with better core expenses, and while Q4 guidance softened a bit, the overall commentary was relatively constructive, the analyst tells investors in a research note.
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Read More on ENV:
- Envestnet price target lowered to $47 from $67 at RBC Capital
- Envestnet cuts FY23 adjusted EPS view to $1.98-$2.01 from $2.09-$2.15
- Envestnet sees Q4 adjusted EPS 51c-54c, consensus 66c
- Envestnet reports Q3 adjusted EPS 56c, consensus 54c
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