Cvent Receives New Coverage from Analysts at Goldman Sachs Group Inc. (CVT)
Goldman Sachs Group Inc. started coverage on shares of Cvent (NYSE:CVT) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $35.00 price target on the stock. Goldman Sachs Group Inc.’s price target would suggest a potential downside of 1.71% from the company’s current price. The analysts noted that the move was a valuation call.
Separately, analysts at Morgan Stanley initiated coverage on shares of Cvent (NYSE:CVT) in a research note to investors on Tuesday. They set an “equal weight” rating on the stock.
Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cvent has a consensus rating of “Buy” and an average target price of $39.33.
Shares of Cvent (NYSE:CVT) traded up 0.84% during mid-day trading on Tuesday, hitting $35.91. 89,308 shares of the company’s stock traded hands. Cvent has a one year low of $30.01 and a one year high of $39.28. The stock’s 50-day moving average is $33.16 and its 200-day moving average is $33.16. The company has a market cap of $1.389 billion and a P/E ratio of 323.73.
Cvent, Inc is a cloud-based enterprise event management platform. The Company offers an integrated cloud-based software platform that addresses the lifecycle of events and meetings.
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