Envestnet, Inc.’s (ENV - Free Report) shares have gained an impressive 34.5% in the past month, outperforming the 4.1% rally of the industry it belongs to and the 4.4% rise of the Zacks S&P 500 composite.
What’s Behind the Rally
ENV put on an impressive earnings performance in the past four quarters. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, delivering an average surprise of 3.3%.
Envestnet remains focused on increasing its share of the addressable market consisting of enterprise clients in wealth management, financial advisors, financial technology providers and financial institutions through its technology platforms. The company has made prudent investments toward enhancing and expanding its technology platforms.
Envestnet continues to focus on technology development to improve operational efficiency, increase market competitiveness, address regulatory demands and cater to client-driven requests for new capabilities. The company’s technology design facilitates significant scalability.
Envestnet’s business model ensures solid asset-based and subscription-based recurring revenue generation capacity. Recurring revenues have displayed consistent growth, with a 4.5% year-over-year increase in 2022, following impressive gains of 20.2% in 2021 and 10.2% in 2020.
Zacks Rank and Stocks to Consider
ENV currently carries a Zacks Rank #3 (Hold).
Investors can consider the following better-ranked stocks:
Rollins (ROL - Free Report) currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.
FTI Consulting (FCN - Free Report) also carries a Zacks Rank #2. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Envestnet, Inc.’s (ENV - Free Report) shares have gained an impressive 34.5% in the past month, outperforming the 4.1% rally of the industry it belongs to and the 4.4% rise of the Zacks S&P 500 composite.
What’s Behind the Rally
ENV put on an impressive earnings performance in the past four quarters. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, delivering an average surprise of 3.3%.
Envestnet remains focused on increasing its share of the addressable market consisting of enterprise clients in wealth management, financial advisors, financial technology providers and financial institutions through its technology platforms. The company has made prudent investments toward enhancing and expanding its technology platforms.
Envestnet continues to focus on technology development to improve operational efficiency, increase market competitiveness, address regulatory demands and cater to client-driven requests for new capabilities. The company’s technology design facilitates significant scalability.
Envestnet’s business model ensures solid asset-based and subscription-based recurring revenue generation capacity. Recurring revenues have displayed consistent growth, with a 4.5% year-over-year increase in 2022, following impressive gains of 20.2% in 2021 and 10.2% in 2020.
Zacks Rank and Stocks to Consider
ENV currently carries a Zacks Rank #3 (Hold).
Investors can consider the following better-ranked stocks:
Rollins (ROL - Free Report) currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.
FTI Consulting (FCN - Free Report) also carries a Zacks Rank #2. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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