ServiceSource International Inc. (SREV) Downgraded by Zacks Investment Research
ServiceSource International Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “
Several other equities analysts have also recently issued reports on the company. TheStreet raised ServiceSource International from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. JMP Securities upped their price objective on ServiceSource International from $7.00 to $8.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 24th.
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Shares of ServiceSource International (NASDAQ:SREV) opened at 4.77 on Wednesday. The company’s market cap is $409.28 million. The company’s 50-day moving average price is $4.90 and its 200 day moving average price is $4.36. ServiceSource International has a 1-year low of $3.35 and a 1-year high of $5.75.
ServiceSource International (NASDAQ:SREV) last released its quarterly earnings data on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $62 million for the quarter, compared to analysts’ expectations of $60.33 million. ServiceSource International had a negative return on equity of 7.50% and a negative net margin of 12.68%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. On average, analysts predict that ServiceSource International will post ($0.01) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC boosted its position in ServiceSource International by 5.5% in the second quarter. BlackRock Advisors LLC now owns 29,279 shares of the company’s stock valued at $118,000 after buying an additional 1,519 shares during the last quarter. AQR Capital Management LLC raised its stake in ServiceSource International by 5.1% in the second quarter. AQR Capital Management LLC now owns 31,532 shares of the company’s stock valued at $127,000 after buying an additional 1,521 shares during the period. Alliancebernstein L.P. raised its stake in ServiceSource International by 59.3% in the second quarter. Alliancebernstein L.P. now owns 32,220 shares of the company’s stock valued at $130,000 after buying an additional 12,000 shares during the period. American International Group Inc. raised its stake in ServiceSource International by 0.9% in the second quarter. American International Group Inc. now owns 35,133 shares of the company’s stock valued at $142,000 after buying an additional 301 shares during the period. Finally, BlackRock Inc. raised its stake in ServiceSource International by 867.7% in the second quarter. BlackRock Inc. now owns 38,853 shares of the company’s stock valued at $157,000 after buying an additional 34,838 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
ServiceSource International Company Profile
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.
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