ServiceSource International, Inc. (NASDAQ:SREV)‘s stock had its “hold” rating reissued by Northland Securities in a report issued on Friday. They currently have a $5.25 target price on the technology company’s stock. Northland Securities’ target price would suggest a potential upside of 49.57% from the company’s previous close.
SREV has been the subject of a number of other reports. Zacks Investment Research downgraded ServiceSource International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded ServiceSource International from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
Shares of ServiceSource International (SREV) traded down 0.28% during midday trading on Friday, hitting $3.50. The company had a trading volume of 127,122 shares. 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 12 month low of $2.82 and a 12 month high of $6.25. The company’s market cap is $312.16 million.
ServiceSource International (NASDAQ:SREV) last issued its quarterly earnings data on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $58.30 million during the quarter, compared to the consensus estimate of $56.26 million. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. On average, equities research analysts forecast that ServiceSource International will post $0.06 EPS for the current year.
In other ServiceSource International news, CEO Christopher Carrington purchased 28,429 shares of ServiceSource International stock in a transaction on Friday, September 8th. The stock was bought at an average price of $3.50 per share, for a total transaction of $99,501.50. Following the transaction, the chief executive officer now owns 822,473 shares of the company’s stock, valued at approximately $2,878,655.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Cakebread sold 60,853 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $3.27, for a total value of $198,989.31. Following the transaction, the director now owns 64,943 shares of the company’s stock, valued at approximately $212,363.61. The disclosure for this sale can be found here. Insiders have acquired a total of 126,578 shares of company stock valued at $428,289 in the last quarter. 30.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in ServiceSource International by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 2,480,558 shares of the technology company’s stock worth $9,624,000 after acquiring an additional 240,079 shares during the period. Geode Capital Management LLC boosted its position in ServiceSource International by 6.0% during the 1st quarter. Geode Capital Management LLC now owns 507,246 shares of the technology company’s stock worth $1,968,000 after acquiring an additional 28,589 shares during the period. Bank of Montreal Can boosted its position in ServiceSource International by 2.7% during the 2nd quarter. Bank of Montreal Can now owns 90,934 shares of the technology company’s stock worth $353,000 after acquiring an additional 2,370 shares during the period. Renaissance Technologies LLC boosted its position in ServiceSource International by 4.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,194,646 shares of the technology company’s stock worth $8,515,000 after acquiring an additional 102,600 shares during the period. Finally, VIEX Capital Advisors LLC acquired a new position in ServiceSource International during the 1st quarter worth $3,054,000. Institutional investors own 74.94% of the company’s stock.
ServiceSource International Company Profile
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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