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Reasons Why Envestnet (ENV) Stock is an Attractive Pick
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Envestnet, Inc. (ENV - Free Report) had an impressive run over the past six months. The stock gained 18.5% compared with the 3.9% rally of the industry it belongs to and the 2.1% rise of the Zacks S&P 500 composite.
Let’s take a look at some other factors that make ENV an attractive pick.
Solid Rank: Envestnet currently sports a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 offer attractive investment opportunities. You can see the complete list of today’s Zacks #1 Rank stocks here.
Positive Earnings Surprise History: Envestnet has an impressive earnings surprise history. The company outpaced the consensus mark in three of the trailing four quarters, delivering an average beat of 135%.
Strong Growth Prospects: The Zacks Consensus Estimate for ENV’s 2023 earnings is pegged at $2.07, reflecting 12% year-over-year growth. Revenues are expected to register a 4.1% increase in 2023.
Growth Factors: Envestnet’s business model ensures solid asset-based and subscription-based recurring revenue-generation capacity. ENV provides asset-based and subscription-based services on a business-to-business-to-consumer basis to financial services clients. These clients offer solutions based on ENV’s platform to their end users.
Several trends are creating significant market opportunities for Envestnet’s technology-enabled solutions and services. Investment advice is becoming an important part of financial planning and customers are increasingly seeking personalized wealth management services. Technology adoption is also increasing significantly with the increasing need to interact with clients who prefer guided advice in a cost-effective manner.
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Reasons Why Envestnet (ENV) Stock is an Attractive Pick
Envestnet, Inc. (ENV - Free Report) had an impressive run over the past six months. The stock gained 18.5% compared with the 3.9% rally of the industry it belongs to and the 2.1% rise of the Zacks S&P 500 composite.
Let’s take a look at some other factors that make ENV an attractive pick.
Solid Rank: Envestnet currently sports a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 offer attractive investment opportunities. You can see the complete list of today’s Zacks #1 Rank stocks here.
Positive Earnings Surprise History: Envestnet has an impressive earnings surprise history. The company outpaced the consensus mark in three of the trailing four quarters, delivering an average beat of 135%.
Strong Growth Prospects: The Zacks Consensus Estimate for ENV’s 2023 earnings is pegged at $2.07, reflecting 12% year-over-year growth. Revenues are expected to register a 4.1% increase in 2023.
Growth Factors: Envestnet’s business model ensures solid asset-based and subscription-based recurring revenue-generation capacity. ENV provides asset-based and subscription-based services on a business-to-business-to-consumer basis to financial services clients. These clients offer solutions based on ENV’s platform to their end users.
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Several trends are creating significant market opportunities for Envestnet’s technology-enabled solutions and services. Investment advice is becoming an important part of financial planning and customers are increasingly seeking personalized wealth management services. Technology adoption is also increasing significantly with the increasing need to interact with clients who prefer guided advice in a cost-effective manner.
Other Stocks to Consider
Some other top-ranked stocks worth considering in the broader Zacks Business Services sector are DocuSign, Inc. (DOCU - Free Report) and Sprinklr,Inc. (CXM - Free Report) .
DocuSign currently sports a Zacks Rank #1. DOCU has a long-term earnings growth expectation of 13.7%.
DOCU delivered a trailing four-quarter earnings surprise of 6.6% on average.
Sprinklr carries a Zacks Rank #2 at present. CXM has a long-term earnings growth expectation of 30%.
Sprinklr delivered a trailing four-quarter earnings surprise of 102.8% on average.