Envestnet rises after Q4 profit beat

Main Street Capital

23/02/2024 19:14

** Shares of wealth management technology provider Envestnet
 ENV.N  rise as much as 10.1%, last up 6.8% at $52.2
    ** After market close on Thursday, ENV posted Q4 adjusted
profit of 65 cents/share versus analysts' expectation of 53
cents/share - LSEG
    ** Q4 adjusted revenue jumped 8% to $317.6 mln compared to
last year, driven by higher asset-based revenue
    ** ENV forecast Q1 total revenue between $320 mln and $326
mln versus estimates of $324.6 mln
    ** Co expects Q1 adjusted profit between 52 cents/share and
57 cents/share versus expectation of 55 cents/share
    ** Stock fell 19.7% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))