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

Envestnet

08/05/2024 14:08

* Envestnet Inc  ENV.N  reported quarterly adjusted earnings
of 60
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 46
cents.  The mean expectation of seven analysts for the quarter
was for earnings of 55 cents per share. Wall Street expected
results to range from 54 cents to 56 cents per share.
    * Revenue rose 8.8% to $324.95 million from a year ago;
analysts
expected $324.88 million. 
    * Envestnet Inc's reported EPS for the quarter was 5 cents​.
    * The company reported quarterly net income of $2.51
million.
    * Envestnet Inc shares had risen by 8.4% this quarter and
gained 26.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.8%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for Envestnet Inc is
$67.00 
This summary was machine generated from LSEG data May 8 at 01:08
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
 Mar. 31 2024      0.55           0.60           Beat
 Dec. 31 2023      0.53           0.65           Beat
 Sep. 30 2023                     0.56           
 Jun. 30 2023      0.46           0.46           Met