Envestnet Inc reports results for the quarter ended in June - Earnings Summary

Envestnet

09/08/2024 22:00

* Envestnet Inc  ENV.N  reported quarterly adjusted earnings
of 55
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 46
cents.  The mean expectation of six analysts for the quarter was
for earnings of 62 cents per share. Wall Street expected
results to range from 61 cents to 63 cents per share.
    * Revenue rose 11.5% to $348.27 million from a year ago;
analysts
expected $342.98 million. 
    * Envestnet Inc's reported EPS for the quarter was a loss of
$1.44​.
    * The company reported a quarterly loss of $79.2 million.
    * Envestnet Inc shares had fallen by 0.9% this quarter and
gained 25.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "hold"

Wall Street's median 12-month price target for Envestnet Inc is
$63.08 
This summary was machine generated from LSEG data August 9 at
09:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.62           0.55           Missed
 Mar. 31 2024      0.55           0.60           Beat
 Dec. 31 2023      0.54           0.65           Beat
 Sep. 30 2023      0.54           0.56           Beat