Cvent EVP Sells $78,540 in Stock (CVT)
Cvent (NYSE:CVT) EVP Charles V. Ghoorah unloaded 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $26.18, for a total transaction of $78,540.00. Following the sale, the executive vice president now directly owns 1,003,375 shares of the company’s stock, valued at approximately $26,268,358. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Cvent (NYSE:CVT) traded down 3.88% on Friday, hitting $25.00. The stock had a trading volume of 288,034 shares. Cvent has a 52 week low of $22.42 and a 52 week high of $46.13. The stock’s 50-day moving average is $27.2 and its 200-day moving average is $31.70. The company’s market cap is $1.030 billion.
Cvent (NYSE:CVT) last announced its earnings results on Thursday, August 7th. 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 $34.13 million for the quarter, compared to the consensus estimate of $33.51 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 26.7% on a year-over-year basis. On average, analysts predict that Cvent will post $0.03 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Cvent from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 17th. They now have a $31.90 price target on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of Cvent from $43.00 to $37.00 in a research note on Thursday, May 15th. Finally, analysts at Pacific Crest cut their price target on shares of Cvent from $46.00 to $30.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $35.38.
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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