DA Davidson Initiates Coverage on Marketo (MKTO)
Investment analysts at DA Davidson initiated coverage on shares of Marketo (NASDAQ:MKTO) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $49.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 68.04% from the company’s current price.
In other Marketo news, CEO Phillip M. Fernandez sold 10,000 shares of Marketo stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Marketo (NASDAQ:MKTO) traded up 3.66% on Tuesday, hitting $29.16. The stock had a trading volume of 278,371 shares. Marketo has a 52-week low of $22.02 and a 52-week high of $45.00. The stock has a 50-day moving average of $27.47 and a 200-day moving average of $30.2. The company’s market cap is $1.189 billion.
Marketo (NASDAQ:MKTO) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.30) by $0.13. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $33.97 million. During the same quarter in the prior year, the company posted ($0.49) earnings per share. The company’s quarterly revenue was up 60.1% on a year-over-year basis. On average, analysts predict that Marketo will post $-0.91 earnings per share for the current fiscal year.
Separately, analysts at First Analysis initiated coverage on shares of Marketo in a research note on Wednesday, July 23rd. They set an “overweight” rating on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.80.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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