Shares of ServiceSource (NASDAQ:SREV) hit a new 52-week high and low on Tuesday . The stock traded as low as $4.35 and last traded at $4.23, with a volume of 45581 shares. The stock had previously closed at $4.32.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of ServiceSource from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. ValuEngine lowered shares of ServiceSource from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. BidaskClub lowered shares of ServiceSource from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, B. Riley assumed coverage on shares of ServiceSource in a research report on Tuesday, March 27th. They set a “buy” rating and a $5.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.75.
The stock has a market capitalization of $368.42 million, a PE ratio of 52.75 and a beta of 1.02.
ServiceSource (NASDAQ:SREV) last announced its earnings results on Thursday, May 3rd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. ServiceSource had a negative net margin of 12.40% and a positive return on equity of 4.47%. The company had revenue of $58.59 million for the quarter, compared to analyst estimates of $54.47 million.
Several hedge funds have recently made changes to their positions in SREV. Harvest Capital Strategies LLC lifted its position in shares of ServiceSource by 21.2% during the first quarter. Harvest Capital Strategies LLC now owns 8,302,914 shares of the technology company’s stock worth $31,634,000 after purchasing an additional 1,454,088 shares in the last quarter. Millennium Management LLC lifted its holdings in ServiceSource by 1,497.1% in the first quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock valued at $5,428,000 after buying an additional 1,335,408 shares during the period. Russell Investments Group Ltd. acquired a new position in ServiceSource in the first quarter valued at approximately $3,856,000. Boston Partners acquired a new position in ServiceSource in the first quarter valued at approximately $3,139,000. Finally, Lyon Street Capital LLC lifted its holdings in ServiceSource by 138.1% in the first quarter. Lyon Street Capital LLC now owns 1,118,397 shares of the technology company’s stock valued at $4,261,000 after buying an additional 648,775 shares during the period. Institutional investors own 70.05% of the company’s stock.
ServiceSource Company Profile
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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