Cvent Given New $38.00 Price Target at Needham & Company LLC (CVT)
Equities research analysts at Needham & Company LLC decreased their price objective on shares of Cvent (NYSE:CVT) from $48.00 to $38.00 in a research note issued to investors on Thursday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 61.98% from the company’s current price.
Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Cvent in a research note on Thursday. They now have a $40.00 price target on the stock, down previously from $45.00. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.75.
Shares of Cvent (NYSE:CVT) opened at 23.46 on Thursday. Cvent has a 52-week low of $23.22 and a 52-week high of $46.13. The stock’s 50-day moving average is $30.94 and its 200-day moving average is $35.0. The company’s market cap is $964.2 million.
Cvent (NYSE:CVT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.07. The company had revenue of $31.40 million for the quarter, compared to the consensus estimate of $30.89 million. The company’s revenue for the quarter was up 28.7% on a year-over-year basis.
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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