Envestnet Announces Strong Q3 Results, Beating Expectations

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ENVESTNET ($NYSE:ENV) is a leading provider of technology-enabled investment and practice management solutions to financial advisors and institutions. The company reported their Q3 results, with a Non-GAAP EPS of $0.45, beating expectations by $0.03. This is great news for the company, and investors will be pleased to see that they are continuing to perform well. The company has a strong product offering and is well-positioned to continue growing in the market.

Earnings

Envestnet has announced strong Q3 results, beating expectations. In its latest earning report for FY2022 Q2, Envestnet recorded total revenue of $1262.9 million and a net loss of $30.5 million. This represents a year-over-year increase in total revenue of 6.4% and a decrease in net income of 329.3%. Envestnet’s total revenue has grown from $998.2 million to $1262.9 million over the last three years.

The company attributes its strong performance to continued growth in its asset and wealth management businesses. Envestnet is a leading provider of technology-enabled investment and practice management solutions for financial advisors and institutions.

Share Price

ENVESTNET released their Q3 results on Tuesday, and they were better than expected. The stock opened at $46.4 and closed at $46.5, up by 0.3% from the prior closing price of $46.3. This was a strong showing for the company, and investors were happy with the results.

VI Analysis

Investing in a company requires due diligence to ensure that the company is a sound investment. A company’s fundamentals can give insights into its long-term potential. The VI app makes it easy to analyze a company’s financials and business risk. Based on the VI Risk Rating, ENVESTNET is a high risk investment in terms of financial and business aspects.

The app has detected 2 risk warnings in the income statement and balance sheet. Register on vi.app to check it out.

VI Peers

The competition between Envestnet Inc and its competitors is fierce. Each company is vying for market share and customer loyalty. Envestnet Inc has a strong product offering and a loyal customer base.

However, its competitors are not to be underestimated. Liquid Holdings Group Inc, Clearwater Analytics Holdings Inc, and Centergistic Solutions Inc are all viable competitors in the market.

– Liquid Holdings Group Inc ($OTCPK:LIQDQ)

Liquid Holdings Group Inc is a financial technology company that provides an integrated suite of cloud-based solutions for the global hedge fund and active trading markets. The company’s solutions include order and execution management, portfolio and risk management, and compliance and reporting. Liquid Holdings Group Inc is headquartered in New York, New York.

– Clearwater Analytics Holdings Inc ($NYSE:CWAN)

Clearwater Analytics Holdings Inc is a provider of cloud-based software solutions for the global insurance industry. The company’s software solutions are used by insurance companies and other financial institutions to manage their investment portfolios, including risk management and compliance. Clearwater’s software solutions are delivered through a software-as-a-service (SaaS) model and are available on a subscription basis.

Summary

ENVESTNET is a leading provider of technology-enabled portfolio management, data aggregation and reporting, and practice management solutions to financial advisors and institutions. The company has a strong track record of delivering innovative, cloud-based solutions that help advisors grow their businesses and better serve their clients. ENVESTNET’s technology platform enables advisors to more efficiently manage their portfolios, aggregate and analyze their data, and track and monitor their progress. The company’s solutions help advisors save time and improve their workflow, while providing them with the insights they need to make better investment decisions. ENVESTNET’s products and services are backed by a team of experienced professionals who are committed to helping advisors succeed.

In addition, ENVESTNET’s world-class training and education team provides advisors with the resources they need to stay ahead of the curve. For more information, visit http://www.envestnet.com.