Envestnet, Inc. (ENV - Free Report) is currently riding on its strong asset-based and subscription-based recurring-revenue generation capacity. The company’s shares have gained 22.2% year to date, significantly outperforming the 2.8% rally of the industry it belongs to.
Envestnet recently reported better-than-expected second-quarter 2020 results. Adjusted earnings per share of 59 cents beat the Zacks Consensus Estimate by 25.5% and increased 28.3% year over year. Revenues of $235.3 million surpassed the consensus mark by 3.5% and climbed 4.8% year over year.
Recurring Revenues Stay Strong
Envestnet’s business model ensures solid asset-based and subscription-based recurring-revenue generation capacity.
The company provides asset-based and subscription-based services on a business-to-business-to-consumer basis to its financial services’ clients. These clients offer solutions based on Envestnet’s platform to their end users. On a business-to-business basis, the company delivers an open platform to customers and third-party developers through an open API framework. Envestnet’s recurring revenues of $227.2 million in the second quarter of 2020 increased 7% year over year.
Envestnet, Inc Revenue (TTM)
Focus on Technology Development
Envestnet continues to focus on technology development with a view to improve operational efficiency, increase market competitiveness, address regulatory demands and cater to client-driven requests for new capabilities. Currently, the company’s technology platforms are based on a three-tier architecture that combines a web-based user interface, an application tier that houses the business logic for all the platforms’ functionality and a SQL Server database. It believes that its technology design allows for significant scalability.
Zacks Rank and Key Picks
Currently, Envestnet has a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , IQVIA Holdings (IQV - Free Report) and NV5 Global (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and CoreLogic are 6.6%, 9.9% and 12%, respectively.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Envestnet, Inc. (ENV - Free Report) is currently riding on its strong asset-based and subscription-based recurring-revenue generation capacity. The company’s shares have gained 22.2% year to date, significantly outperforming the 2.8% rally of the industry it belongs to.
Envestnet recently reported better-than-expected second-quarter 2020 results. Adjusted earnings per share of 59 cents beat the Zacks Consensus Estimate by 25.5% and increased 28.3% year over year. Revenues of $235.3 million surpassed the consensus mark by 3.5% and climbed 4.8% year over year.
Recurring Revenues Stay Strong
Envestnet’s business model ensures solid asset-based and subscription-based recurring-revenue generation capacity.
The company provides asset-based and subscription-based services on a business-to-business-to-consumer basis to its financial services’ clients. These clients offer solutions based on Envestnet’s platform to their end users. On a business-to-business basis, the company delivers an open platform to customers and third-party developers through an open API framework. Envestnet’s recurring revenues of $227.2 million in the second quarter of 2020 increased 7% year over year.
Envestnet, Inc Revenue (TTM)
Focus on Technology Development
Envestnet continues to focus on technology development with a view to improve operational efficiency, increase market competitiveness, address regulatory demands and cater to client-driven requests for new capabilities. Currently, the company’s technology platforms are based on a three-tier architecture that combines a web-based user interface, an application tier that houses the business logic for all the platforms’ functionality and a SQL Server database. It believes that its technology design allows for significant scalability.
Zacks Rank and Key Picks
Currently, Envestnet has a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , IQVIA Holdings (IQV - Free Report) and NV5 Global (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and CoreLogic are 6.6%, 9.9% and 12%, respectively.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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