ServiceSource International, Inc. (NASDAQ:SREV) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, July 24th.
SREV has been the topic of a number of other reports. Zacks Investment Research upgraded shares of ServiceSource International from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Saturday, May 13th. TheStreet downgraded shares of ServiceSource International from a “c-” rating to a “d+” rating in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. ServiceSource International presently has a consensus rating of “Hold” and an average price target of $5.58.
ServiceSource International (SREV) traded up 1.23% on Monday, reaching $3.28. 240,723 shares of the company’s stock traded hands. The stock’s 50 day moving average is $3.74 and its 200 day moving average is $3.87. ServiceSource International has a 52-week low of $2.82 and a 52-week high of $6.25. The firm’s market cap is $292.54 million.
ServiceSource International (NASDAQ:SREV) last issued its earnings results on Monday, August 7th. The technology company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $58.30 million for the quarter, compared to the consensus estimate of $56.26 million. ServiceSource International had a negative net margin of 17.26% and a negative return on equity of 3.70%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. On average, equities research analysts predict that ServiceSource International will post $0.06 EPS for the current fiscal year.
In other ServiceSource International news, Director Steven Cakebread sold 29,692 shares of ServiceSource International stock in a transaction on Friday, August 18th. The shares were sold at an average price of $3.22, for a total transaction of $95,608.24. Following the completion of the transaction, the director now directly owns 64,943 shares of the company’s stock, valued at $209,116.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 30.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in ServiceSource International by 11.7% in the second quarter. California State Teachers Retirement System now owns 134,274 shares of the technology company’s stock worth $521,000 after buying an additional 14,100 shares during the period. The Manufacturers Life Insurance Company boosted its position in ServiceSource International by 31.2% in the second quarter. The Manufacturers Life Insurance Company now owns 65,379 shares of the technology company’s stock worth $253,000 after buying an additional 15,540 shares during the period. State Street Corp boosted its position in ServiceSource International by 13.0% in the second quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock worth $4,406,000 after buying an additional 130,675 shares during the period. Lyon Street Capital LLC bought a new position in ServiceSource International during the second quarter worth approximately $279,000. Finally, Goldman Sachs Group Inc. boosted its position in ServiceSource International by 2.0% in the second quarter. Goldman Sachs Group Inc. now owns 40,261 shares of the technology company’s stock worth $156,000 after buying an additional 794 shares during the period. 66.55% of the stock is 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 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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