For the quarter ended September 2023, Envestnet (ENV) reported revenue of $316.85 million, up 3.3% over the same period last year. EPS came in at $0.56, compared to $0.45 in the year-ago quarter.
The reported revenue represents a surprise of -0.50% over the Zacks Consensus Estimate of $318.45 million. With the consensus EPS estimate being $0.54, the EPS surprise was +3.70%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Platform Assets – Total AUM/A: $773.49 billion versus $734.29 billion estimated by three analysts on average.
- Platform Assets – Assets under Administration (AUA): $398.08 billion compared to the $368.54 billion average estimate based on three analysts.
- Platform Assets – Assets under Management (AUM): $375.41 billion versus $365.76 billion estimated by three analysts on average.
- Net Flows – AUM/A: $20.64 billion versus the two-analyst average estimate of $13.79 billion.
- Revenues- Recurring revenues- Asset-based: $193.90 million versus $194.47 million estimated by four analysts on average.
- Revenues- Total Recurring Revenues: $308.84 million versus $312.36 million estimated by four analysts on average.
- Revenues- Recurring revenues- Subscription-based: $114.94 million compared to the $117.89 million average estimate based on four analysts.
- Revenues- Professional services and other revenues: $8.01 million versus $6.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +37.7% change.
- Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $38.13 million versus the three-analyst average estimate of $40.04 million.
- Revenues- Envestnet Data & Analytics- Professional services and other revenues: $3.69 million versus the two-analyst average estimate of $3.90 million.
- Revenues- Envestnet Data & Analytics: $41.82 million versus $44.04 million estimated by two analysts on average.
- Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $76.81 million versus $77.62 million estimated by two analysts on average.
View all Key Company Metrics for Envestnet here>>>
Shares of Envestnet have returned -12.2% over the past month versus the Zacks S&P 500 composite’s +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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