ServiceSource International Inc. (SREV) Sees Large Volume Increase
ServiceSource International Inc. (NASDAQ:SREV) saw strong trading volume on Tuesday . 670,454 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 429,118 shares.The stock last traded at $4.21 and had previously closed at $4.06.
Several brokerages have commented on SREV. Zacks Investment Research lowered shares of ServiceSource International from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. JMP Securities restated a “buy” rating and issued a $7.00 price objective on shares of ServiceSource International in a report on Thursday, June 23rd.
The company has a 50-day moving average of $4.00 and a 200 day moving average of $4.03. The company’s market capitalization is $358.58 million.
ServiceSource International (NASDAQ:SREV) last posted its earnings results on Monday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. During the same period last year, the business posted ($0.01) earnings per share. The business earned $59.80 million during the quarter, compared to analysts’ expectations of $58.36 million. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts predict that ServiceSource International Inc. will post ($0.04) earnings per share for the current fiscal year.
In related news, Director Richard Campione sold 18,625 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $3.75, for a total value of $69,843.75. Following the completion of the transaction, the director now directly owns 284,680 shares of the company’s stock, valued at $1,067,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
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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