ServiceSource International Inc. (SREV) Rating Lowered to Hold at Zacks Investment Research
ServiceSource International Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “
A number of other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of ServiceSource International from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. JMP Securities boosted their price objective on shares of ServiceSource International from $7.00 to $8.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 24th.
Shares of ServiceSource International (NASDAQ:SREV) opened at 4.78 on Wednesday. The firm’s market capitalization is $410.14 million. The firm’s 50-day moving average is $4.88 and its 200-day moving average is $4.36. ServiceSource International has a 12-month low of $3.35 and a 12-month high of $5.75.
ServiceSource International (NASDAQ:SREV) last announced its earnings results on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company earned $62 million during the quarter, compared to analysts’ expectations of $60.33 million. ServiceSource International had a negative net margin of 12.68% and a negative return on equity of 7.50%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Equities research analysts forecast that ServiceSource International will post ($0.01) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. 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 worth $142,000 after buying an additional 301 shares in the last quarter. BlackRock Advisors LLC increased its stake in ServiceSource International by 5.5% in the second quarter. BlackRock Advisors LLC now owns 29,279 shares of the company’s stock worth $118,000 after buying an additional 1,519 shares during the last quarter. AQR Capital Management LLC increased its stake in ServiceSource International by 5.1% in the second quarter. AQR Capital Management LLC now owns 31,532 shares of the company’s stock worth $127,000 after buying an additional 1,521 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in ServiceSource International by 7.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 45,666 shares of the company’s stock worth $195,000 after buying an additional 3,139 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in ServiceSource International by 2.6% in the second quarter. California State Teachers Retirement System now owns 127,974 shares of the company’s stock worth $516,000 after buying an additional 3,197 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.
ServiceSource International Company Profile
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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