Servicesource International (SREV) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Servicesource International (NASDAQ:SREV) from a hold rating to a sell rating in a research report report published on Thursday morning.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Servicesource International from a sell rating to a hold rating in a report on Wednesday, January 10th. BidaskClub raised shares of Servicesource International from a hold rating to a buy rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $4.63.

Servicesource International (NASDAQ:SREV) traded down $0.03 during trading hours on Thursday, hitting $3.14. 27,421 shares of the company were exchanged, compared to its average volume of 395,377. Servicesource International has a 52 week low of $2.61 and a 52 week high of $6.05.

Servicesource International (NASDAQ:SREV) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $56.55 million. Servicesource International had a negative net margin of 15.89% and a negative return on equity of 1.35%. Servicesource International’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. analysts expect that Servicesource International will post -0.02 earnings per share for the current fiscal year.

In related news, CEO Christopher Carrington purchased 33,900 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $2.95 per share, with a total value of $100,005.00. Following the acquisition, the chief executive officer now owns 853,202 shares of the company’s stock, valued at approximately $2,516,945.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. PEAK6 Investments L.P. bought a new stake in Servicesource International during the 3rd quarter valued at $105,000. Voya Investment Management LLC raised its holdings 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 acquiring an additional 6,789 shares during the period. JPMorgan Chase & Co. bought a new stake in Servicesource International during the 3rd quarter valued at $139,000. Goldman Sachs Group Inc. raised its holdings in Servicesource International by 2.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 40,261 shares of the technology company’s stock valued at $156,000 after acquiring an additional 794 shares during the period. Finally, OxFORD Asset Management LLP raised its holdings 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 acquiring an additional 20,966 shares during the period. 68.65% of the stock is currently owned by institutional investors and hedge funds.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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