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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. Envestnet’s recurring revenues increased 10.2% in 2020, 20.2% in 2021 and 4.5% year over year in 2022, respectively.
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 an increasing need to interact with clients who prefer guided advice in a cost-effective manner.
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. It believes that its technology design allows for significant scalability.
Envestnet’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average earnings surprise of 5.7%.
Zacks Rank and Stocks to Consider
ENV currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Zacks Business Services sector that investors may consider.
Omnicom Group's (OMC - Free Report) internal development initiatives and shareholder-friendly policies ensure long-term profitability. The Zacks Consensus Estimate for the company’s first-quarter 2023 earnings is pegged at $1.4, which has been revised downward by 1.4% in the past 60 days. The consensus estimate for the full year stands at $7.15 per share. This has been revised 13.7% upward in the past 60 days.
For first-quarter 2023, OMC’s earnings are expected to improve marginally year over year. The company’s earnings are expected to grow 3.5% on a year-over-year basis in 2023. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ICF International (ICFI - Free Report) is being aided by the strong government business, courtesy of improvement in the business development pipeline and win rate. The Zacks Consensus Estimate for the company’s first-quarter 2023 earnings is pegged at $1.41, which has been revised upward by 6% in the past 60 days. The consensus estimate for the full year stands at $6.3 per share. This has been revised 7.3% upward in the past 60 days.
For first-quarter 2023, ICFI’s earnings are expected to register 7.6% growth on a year-over-year basis. For 2023, the company’s earnings are expected to grow 9.2% on a year-over-year basis. The company currently sports a Zacks Rank #1.
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Envestnet (ENV) Stock Gains 13.5% in 6 Months: Here's How
Envestnet, Inc. (ENV - Free Report) has had an impressive run over the past six months.
The stock has gained 13.5%, outperforming the 7.4% rise of the Zacks S&P 500 composite.
Envestnet, Inc Price
Envestnet, Inc price | Envestnet, Inc Quote
Reasons for the Upside
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. Envestnet’s recurring revenues increased 10.2% in 2020, 20.2% in 2021 and 4.5% year over year in 2022, respectively.
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 an increasing need to interact with clients who prefer guided advice in a cost-effective manner.
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. It believes that its technology design allows for significant scalability.
Envestnet’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average earnings surprise of 5.7%.
Zacks Rank and Stocks to Consider
ENV currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Zacks Business Services sector that investors may consider.
Omnicom Group's (OMC - Free Report) internal development initiatives and shareholder-friendly policies ensure long-term profitability. The Zacks Consensus Estimate for the company’s first-quarter 2023 earnings is pegged at $1.4, which has been revised downward by 1.4% in the past 60 days. The consensus estimate for the full year stands at $7.15 per share. This has been revised 13.7% upward in the past 60 days.
For first-quarter 2023, OMC’s earnings are expected to improve marginally year over year. The company’s earnings are expected to grow 3.5% on a year-over-year basis in 2023. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ICF International (ICFI - Free Report) is being aided by the strong government business, courtesy of improvement in the business development pipeline and win rate. The Zacks Consensus Estimate for the company’s first-quarter 2023 earnings is pegged at $1.41, which has been revised upward by 6% in the past 60 days. The consensus estimate for the full year stands at $6.3 per share. This has been revised 7.3% upward in the past 60 days.
For first-quarter 2023, ICFI’s earnings are expected to register 7.6% growth on a year-over-year basis. For 2023, the company’s earnings are expected to grow 9.2% on a year-over-year basis. The company currently sports a Zacks Rank #1.