Marketo EVP Sells $94,614 in Stock (MKTO)
Marketo (NASDAQ:MKTO) EVP William B. Binch, Jr. sold 3,204 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $29.53, for a total value of $94,614.12. Following the completion of the transaction, the executive vice president now directly owns 48,100 shares of the company’s stock, valued at approximately $1,420,393. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
MKTO has been the subject of a number of recent research reports. Analysts at Davidson initiated coverage on shares of Marketo in a research note on Thursday, August 28th. They set a “buy” rating on the stock. Separately, analysts at DA Davidson initiated coverage on shares of Marketo in a research note on Tuesday, August 26th. They set a “buy” rating and a $49.00 price target on the stock. Finally, 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. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Marketo currently has a consensus rating of “Buy” and a consensus target price of $47.80.
Shares of Marketo (NASDAQ:MKTO) traded up 1.71% on Wednesday, hitting $30.30. 495,515 shares of the company’s stock traded hands. Marketo has a one year low of $22.02 and a one year high of $45.00. The stock’s 50-day moving average is $27. and its 200-day moving average is $29.6. The company’s market cap is $1.235 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.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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