Marketo SVP Sells $1,359,600 in Stock (MKTO)
Marketo (NASDAQ:MKTO) SVP William Binch, Jr. unloaded 40,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $33.99, for a total value of $1,359,600.00. Following the completion of the transaction, the senior vice president now directly owns 63,275 shares in the company. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Raymond James raised their price target on shares of Marketo (NASDAQ:MKTO) from $26.00 to $30.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of Marketo (NASDAQ:MKTO) from $27.00 to $31.00 in a research note to investors on Thursday, August 1st. Finally, analysts at UBS AG raised their price target on shares of Marketo (NASDAQ:MKTO) from $22.00 to $24.00 in a research note to investors on Wednesday, July 31st. They now have a “sell” rating on the stock.
One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.
Marketo (NASDAQ:MKTO) traded down 0.12% on Wednesday, hitting $35.158. The stock had a trading volume of 184,883 shares. Marketo has a 52 week low of $17.20 and a 52 week high of $39.80. The stock has a 50-day moving average of $35.49 and a 200-day moving average of $28.36. The company’s market cap is $1.302 billion.
Marketo (NASDAQ:MKTO) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.43) by $0.06. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $20.12 million. During the same quarter in the prior year, the company posted ($3.30) earnings per share. The company’s quarterly revenue was up 61.9% on a year-over-year basis. On average, analysts predict that Marketo will post $-1.47 earnings per share for the current fiscal year.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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