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Envestnet (ENV) Stock Gains 33% in 3 Months: Here's Why

Envestnet, Inc. ENV had an impressive run over the past three months. The stock gained 32.5% compared with the 7.2% rally of the industry it belongs to and the 0.7% rise of the Zacks S&P 500 composite.

Reasons for the Upside

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.

Envestnet, Inc Revenue (TTM)

Envestnet, Inc Revenue (TTM)
Envestnet, Inc Revenue (TTM)

Envestnet, Inc revenue-ttm | Envestnet, Inc Quote

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.

Envestnet continues to focus on technology development with a view to improving operational efficiency, increasing market competitiveness, addressing regulatory demands and catering to client-driven requests for new capabilities. It believes that its technology design allows for significant scalability.

Envestnet’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering a positive average earnings surprise of 5%.

Zacks Rank and Stocks to Consider

ENV currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation BAH and Cross Country Healthcare, Inc. CCRN.

Booz Allen carries a Zacks Rank #2 (Buy) at present. BAH has a long-term earnings growth expectation of 8.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Booz Allen delivered a trailing four-quarter earnings surprise of 8.8% on average.

Cross Country Healthcare is currently a Zacks #2 Ranked stock. CCRN has a long-term earnings growth expectation of 6%.

CCRN delivered a trailing four-quarter earnings surprise of 10.1% on average.

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Envestnet, Inc (ENV) : Free Stock Analysis Report

Booz Allen Hamilton Holding Corporation (BAH) : Free Stock Analysis Report

Cross Country Healthcare, Inc. (CCRN) : Free Stock Analysis Report

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Zacks Investment Research