ServiceSource (NASDAQ:SREV) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded ServiceSource from a “sell” rating to a “hold” rating in a report on Friday, February 16th. ValuEngine downgraded ServiceSource from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Finally, B. Riley started coverage on ServiceSource in a report on Tuesday, March 27th. They set a “buy” rating and a $5.00 price target for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.75.
ServiceSource opened at $4.05 on Friday, according to Marketbeat.com. ServiceSource has a twelve month low of $2.61 and a twelve month high of $4.17. The firm has a market capitalization of $363.88 million, a P/E ratio of 50.63 and a beta of 1.02.
ServiceSource (NASDAQ:SREV) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. ServiceSource had a positive return on equity of 4.47% and a negative net margin of 12.40%. The firm had revenue of $58.59 million during the quarter, compared to the consensus estimate of $54.47 million.
A number of institutional investors have recently modified their holdings of the business. Harvest Capital Strategies LLC grew its holdings in ServiceSource by 21.2% during the 1st quarter. Harvest Capital Strategies LLC now owns 8,302,914 shares of the technology company’s stock worth $31,634,000 after acquiring an additional 1,454,088 shares during the period. BlackRock Inc. boosted its position in shares of ServiceSource by 0.8% during the 4th quarter. BlackRock Inc. now owns 4,676,802 shares of the technology company’s stock worth $14,450,000 after purchasing an additional 35,525 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ServiceSource by 2.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,282,500 shares of the technology company’s stock worth $7,053,000 after purchasing an additional 65,354 shares in the last quarter. Millennium Management LLC boosted its position in shares of ServiceSource by 1,497.1% during the 1st quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock worth $5,428,000 after purchasing an additional 1,335,408 shares in the last quarter. Finally, Lyon Street Capital LLC boosted its position in shares of ServiceSource by 138.1% during the 1st quarter. Lyon Street Capital LLC now owns 1,118,397 shares of the technology company’s stock worth $4,261,000 after purchasing an additional 648,775 shares in the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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