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Cvent (NYSE:CVT)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report released on Thursday, ARN reports. They currently have a $40.00 price objective on the stock, down from their previous price objective of $45.00. Stifel Nicolaus’ target price indicates a potential upside of 70.50% from the company’s current price.

Cvent (NYSE:CVT) traded down 0.72% on Thursday, hitting $23.29. 300,629 shares of the company’s stock traded hands. Cvent has a one year low of $23.22 and a one year 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 $957.2 million.

Cvent (NYSE:CVT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters 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 quarterly revenue 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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