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Cvent (NYSE:CVT) major shareholder Scott D. Sandell sold 2,641 shares of Cvent stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $26.19, for a total transaction of $69,167.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Separately, 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.38.

Cvent (NYSE:CVT) traded up 0.36% during mid-day trading on Wednesday, hitting $26.425. 18,508 shares of the company’s stock traded hands. Cvent has a one year low of $22.42 and a one year high of $46.13. The stock has a 50-day moving average of $26.71 and a 200-day moving average of $31.09. The company has a market cap of $1.117 billion and a P/E ratio of 774.41.

Cvent (NYSE:CVT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.04 earnings per share. Cvent’s revenue was up 26.7% compared to the same quarter last year. On average, analysts predict that Cvent will post $0.05 earnings per share for the current fiscal year.

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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