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Reasons Why Envestnet (ENV) Stock is an Attractive Pick Now
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Envestnet, Inc. (ENV - Free Report) has had an impressive run over the past year. The stock has gained 21.2% compared with the 11% rally of the industry it belongs to and the 16.8% 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 carries 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.
Northward Estimate Revisions: Two estimates for the current year moved north over the past 60 days versus no southward revisions, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for the current year increased 1.4%.
Positive Earnings Surprise History: Envestnet has an impressive earnings surprise history. The company outpaced the consensus mark in all the trailing four quarters, delivering an average beat of 5.7%.
Strong Growth Prospects: The Zacks Consensus Estimate for ENV’s 2023 earnings is pegged at $2.16, indicating 16.1% year-over-year growth. Revenues are expected to register a 2.6% 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.
Other Stocks to Consider
Avis Budget (CAR - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for Avis Budget’s revenues suggests a decline of 1.6% year over year to $3.19 billion and the same for earnings indicates a 38.6% plunge to $9.78 per share. The company has an impressive earnings surprise history, beating the consensus mark in all the trailing four quarters, the average surprise being 65.2%.
CAR currently has a Value Score of A and a Zacks Rank of 1.
Maximus (MMS - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for Maximus’ revenues suggests an increase of 6.9% year over year to $1.2 billion and the same for earnings indicates a 46.2% rise to $1.14 per share. The company has an impressive earnings surprise history, beating the consensus mark in three instances and missing once, the average surprise being 9.6%.
MMS currently has a VGM Score of B and a Zacks Rank of 1.
Interpublic Group (IPG - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for IPG’s revenues suggests an increase of 0.6% year over year to $2.39 billion and the same for earnings indicates a 3.2% decline to 61 cents per share. The company has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 9.5%.
IPG currently has a Value Score of A and a Zacks Rank #2.
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Reasons Why Envestnet (ENV) Stock is an Attractive Pick Now
Envestnet, Inc. (ENV - Free Report) has had an impressive run over the past year. The stock has gained 21.2% compared with the 11% rally of the industry it belongs to and the 16.8% 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 carries 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.
Envestnet, Inc Price
Envestnet, Inc price | Envestnet, Inc Quote
Northward Estimate Revisions: Two estimates for the current year moved north over the past 60 days versus no southward revisions, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for the current year increased 1.4%.
Positive Earnings Surprise History: Envestnet has an impressive earnings surprise history. The company outpaced the consensus mark in all the trailing four quarters, delivering an average beat of 5.7%.
Strong Growth Prospects: The Zacks Consensus Estimate for ENV’s 2023 earnings is pegged at $2.16, indicating 16.1% year-over-year growth. Revenues are expected to register a 2.6% 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.
Other Stocks to Consider
Avis Budget (CAR - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for Avis Budget’s revenues suggests a decline of 1.6% year over year to $3.19 billion and the same for earnings indicates a 38.6% plunge to $9.78 per share. The company has an impressive earnings surprise history, beating the consensus mark in all the trailing four quarters, the average surprise being 65.2%.
CAR currently has a Value Score of A and a Zacks Rank of 1.
Maximus (MMS - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for Maximus’ revenues suggests an increase of 6.9% year over year to $1.2 billion and the same for earnings indicates a 46.2% rise to $1.14 per share. The company has an impressive earnings surprise history, beating the consensus mark in three instances and missing once, the average surprise being 9.6%.
MMS currently has a VGM Score of B and a Zacks Rank of 1.
Interpublic Group (IPG - Free Report) : For second-quarter 2023, the Zacks Consensus Estimate for IPG’s revenues suggests an increase of 0.6% year over year to $2.39 billion and the same for earnings indicates a 3.2% decline to 61 cents per share. The company has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 9.5%.
IPG currently has a Value Score of A and a Zacks Rank #2.