Envestnet (ENV) Lags Q2 Earnings Estimates

Group 1: Earnings Performance - Envestnet reported quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.63 per share, but showing an increase from $0.46 per share a year ago, resulting in an earnings surprise of -12.70% [1] - The company posted revenues of $348.27 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.57% and increasing from $312.43 million year-over-year [2] - Over the last four quarters, Envestnet has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Envestnet shares have increased approximately 25.2% since the beginning of the year, outperforming the S&P 500's gain of 11.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.68 on revenues of $345.64 million, and for the current fiscal year, it is $2.63 on revenues of $1.37 billion [7] Group 3: Industry Context - The Financial Transaction Services industry, to which Envestnet belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]