Northland Securities Reaffirms “Hold” Rating for ServiceSource International, Inc. (SREV)
ServiceSource International, Inc. (NASDAQ:SREV)‘s stock had its “hold” rating reaffirmed by analysts at Northland Securities in a note issued to investors on Friday. They presently have a $5.25 target price on the technology company’s stock. Northland Securities’ price target points to a potential upside of 48.31% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered ServiceSource International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub lowered ServiceSource International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.
Shares of ServiceSource International (NASDAQ SREV) traded up 1.14% during trading on Friday, hitting $3.55. The company had a trading volume of 236,524 shares. The company’s market capitalization is $316.62 million. The stock’s 50-day moving average price is $3.50 and its 200 day moving average price is $3.62. ServiceSource International has a 52 week low of $2.82 and a 52 week high of $6.25.
ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The company had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $56.26 million. During the same quarter in the previous year, the business earned $0.01 EPS. ServiceSource International’s revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that ServiceSource International will post $0.06 earnings per share for the current year.
In other ServiceSource International news, Director Steven Cakebread sold 60,853 shares of ServiceSource International stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $3.27, for a total transaction of $198,989.31. Following the completion of the sale, the director now directly owns 64,943 shares of the company’s stock, valued at approximately $212,363.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary B. Moore bought 50,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $3.38 per share, with a total value of $169,000.00. Following the completion of the transaction, the director now owns 143,627 shares in the company, valued at $485,459.26. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 126,578 shares of company stock valued at $428,289. 30.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SREV. Voya Investment Management LLC raised its position in ServiceSource International by 22.7% during the 2nd quarter. Voya Investment Management LLC now owns 36,641 shares of the technology company’s stock valued at $142,000 after purchasing an additional 6,789 shares in the last quarter. American International Group Inc. raised its position in ServiceSource International by 7.1% during the 1st quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock valued at $146,000 after purchasing an additional 2,484 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ServiceSource International by 30.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 39,467 shares of the technology company’s stock valued at $153,000 after purchasing an additional 9,284 shares in the last quarter. OxFORD Asset Management LLP raised its position in ServiceSource International by 106.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 40,684 shares of the technology company’s stock valued at $158,000 after purchasing an additional 20,966 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in ServiceSource International by 21.7% during the 2nd quarter. Nationwide Fund Advisors now owns 42,721 shares of the technology company’s stock valued at $166,000 after purchasing an additional 7,607 shares in the last quarter. 74.94% of the stock is owned by institutional investors and hedge funds.
About ServiceSource International
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).
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