Zacks: Analysts Set $6.33 Price Target for ServiceSource International Inc. (SREV)
Shares of ServiceSource International Inc. (NASDAQ:SREV) have been assigned a consensus broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a one year consensus price target of $6.33 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned ServiceSource International an industry rank of 166 out of 265 based on the ratings given to its competitors.
SREV has been the subject of several research analyst reports. JMP Securities increased their target price on shares of ServiceSource International from $7.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 24th. TheStreet raised shares of ServiceSource International from a “sell” rating to a “hold” rating in a research note on Wednesday, September 7th. Finally, Zacks Investment Research lowered shares of ServiceSource International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC raised 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 position 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 last quarter. Alliancebernstein L.P. raised its position 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 last quarter. American International Group Inc. raised its position 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 last quarter. Finally, BlackRock Inc. raised its position 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 last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.
ServiceSource International (NASDAQ:SREV) traded down 0.21% during mid-day trading on Monday, reaching $4.79. 54,692 shares of the company’s stock traded hands. The stock’s 50 day moving average is $4.87 and its 200-day moving average is $4.37. ServiceSource International has a 52 week low of $3.35 and a 52 week high of $5.75. The stock’s market capitalization is $411.00 million.
ServiceSource International (NASDAQ:SREV) last announced its earnings results on Monday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company earned $62 million during the quarter, compared to analyst estimates of $60.33 million. ServiceSource International had a negative net margin of 12.68% and a negative return on equity of 7.50%. ServiceSource International’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, equities analysts anticipate that ServiceSource International will post ($0.01) EPS for the current year.
About ServiceSource International
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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