SVMK (SVMK) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SVMK (NASDAQ:SVMK) from a sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “SVMK Inc. develops survey software. The Company offers a platform which enables organizations to collect and analyze feedback and insights which solves business problems, enhances customer experience and loyalty, improves employee productivity, retention, optimization and marketing investments. SVMK Inc. is based in San Mateo, United States. “

A number of other research analysts have also recently issued reports on SVMK. ValuEngine upgraded shares of SVMK from a hold rating to a buy rating in a report on Tuesday, November 27th. UBS Group began coverage on shares of SVMK in a report on Monday, October 22nd. They set a neutral rating and a $15.00 price objective for the company. Wells Fargo & Co began coverage on shares of SVMK in a report on Tuesday, November 13th. They set a market perform rating and a $13.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of SVMK in a report on Monday, October 22nd. They set an overweight rating and a $15.00 price objective for the company. Finally, JMP Securities began coverage on shares of SVMK in a report on Monday, October 22nd. They set an outperform rating and a $16.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. SVMK has a consensus rating of Buy and an average target price of $14.86.

Shares of NASDAQ SVMK traded up $0.33 during mid-day trading on Thursday, reaching $13.37. 188,800 shares of the company’s stock traded hands, compared to its average volume of 322,150. SVMK has a 1-year low of $10.05 and a 1-year high of $20.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.

SVMK (NASDAQ:SVMK) last issued its quarterly earnings data on Tuesday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $65.21 million for the quarter, compared to analyst estimates of $62.93 million. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) earnings per share. On average, research analysts anticipate that SVMK will post -1.41 EPS for the current fiscal year.

In related news, President Thomas E. Hale sold 18,016 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $12.40, for a total transaction of $223,398.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rebecca Cantieri sold 4,059 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $12.39, for a total transaction of $50,291.01. The disclosure for this sale can be found here. Insiders have sold 33,104 shares of company stock worth $410,339 over the last three months.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allen Operations LLC bought a new position in shares of SVMK during the third quarter valued at about $2,025,000. Soros Fund Management LLC bought a new position in shares of SVMK during the third quarter valued at about $6,412,000. JPMorgan Chase & Co. bought a new position in shares of SVMK during the third quarter valued at about $3,129,000. Hsbc Holdings PLC bought a new position in shares of SVMK during the third quarter valued at about $160,000. Finally, Putnam Investments LLC bought a new position in shares of SVMK during the third quarter valued at about $3,596,000. 50.28% of the stock is currently owned by institutional investors.

About SVMK

SVMK Inc provides survey software products that enable organizations to engage with their customers, employees, and the markets they serve in the United States and internationally. Its cloud-based SaaS platform helps individuals and organizations to design and distribute surveys that generate an average of approximately 20 million answered questions daily across approximately 190 countries and territories.

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