Envestnet (ENV - Free Report) reported $312.43 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 2%. EPS of $0.46 for the same period compares to $0.49 a year ago.
The reported revenue represents a surprise of -0.85% over the Zacks Consensus Estimate of $315.1 million. With the consensus EPS estimate being $0.46, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Platform Assets - Total AUM/A: $778.9 billion compared to the $717.2 billion average estimate based on three analysts.
- Platform Assets - Assets under Administration (AUA): $394.1 billion versus the three-analyst average estimate of $359.5 billion.
- Platform Assets - Assets under Management (AUM): $384.8 billion versus the three-analyst average estimate of $357.7 billion.
- Revenues- Recurring revenues- Asset-based: $185.76 million versus $187.77 million estimated by four analysts on average.
- Revenues- Total Recurring Revenues: $300.72 million versus $308.29 million estimated by four analysts on average.
- Revenues- Professional services and other revenues: $11.71 million versus $9.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.7% change.
- Revenues- Recurring revenues- Subscription-based: $114.96 million versus $118.27 million estimated by four analysts on average.
- Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $39.45 million versus $40.76 million estimated by two analysts on average.
- Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $75.51 million versus $76.98 million estimated by two analysts on average.
View all Key Company Metrics for Envestnet here>>>Shares of Envestnet have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Envestnet (ENV - Free Report) reported $312.43 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 2%. EPS of $0.46 for the same period compares to $0.49 a year ago.
The reported revenue represents a surprise of -0.85% over the Zacks Consensus Estimate of $315.1 million. With the consensus EPS estimate being $0.46, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Platform Assets - Total AUM/A: $778.9 billion compared to the $717.2 billion average estimate based on three analysts.
- Platform Assets - Assets under Administration (AUA): $394.1 billion versus the three-analyst average estimate of $359.5 billion.
- Platform Assets - Assets under Management (AUM): $384.8 billion versus the three-analyst average estimate of $357.7 billion.
- Revenues- Recurring revenues- Asset-based: $185.76 million versus $187.77 million estimated by four analysts on average.
- Revenues- Total Recurring Revenues: $300.72 million versus $308.29 million estimated by four analysts on average.
- Revenues- Professional services and other revenues: $11.71 million versus $9.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.7% change.
- Revenues- Recurring revenues- Subscription-based: $114.96 million versus $118.27 million estimated by four analysts on average.
- Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $39.45 million versus $40.76 million estimated by two analysts on average.
- Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $75.51 million versus $76.98 million estimated by two analysts on average.
View all Key Company Metrics for Envestnet here>>>Shares of Envestnet have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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