SVMK (SVMK) Lowered to Sell at Zacks Investment Research

SVMK (NASDAQ:SVMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on SVMK. ValuEngine cut shares of SVMK from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Stephens initiated coverage on shares of SVMK in a report on Friday, March 22nd. They issued an “overweight” rating and a $20.00 price target on the stock. SunTrust Banks upped their price target on shares of SVMK to $19.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of SVMK from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.38.

SVMK traded up $0.11 during trading on Wednesday, hitting $16.19. The company had a trading volume of 956,123 shares, compared to its average volume of 909,616. The stock has a market capitalization of $2.09 billion and a PE ratio of -11.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.31 and a quick ratio of 1.31. SVMK has a 1-year low of $10.05 and a 1-year high of $20.00.

SVMK (NASDAQ:SVMK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $68.64 million during the quarter, compared to analyst estimates of $68.13 million. The company’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts forecast that SVMK will post -0.59 earnings per share for the current fiscal year.

In other SVMK news, major shareholder Tiger Global Management Llc sold 10,063,993 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $15.22, for a total transaction of $153,173,973.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Alexander J. Lurie sold 8,100 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $11.79, for a total transaction of $95,499.00. The disclosure for this sale can be found here. Insiders have sold 12,159,865 shares of company stock worth $184,569,613 over the last three months. 26.30% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Spectrum Equity Management Inc. bought a new position in shares of SVMK during the fourth quarter worth about $106,755,000. Vanguard Group Inc bought a new position in SVMK in the 3rd quarter valued at about $4,328,000. Emerald Advisers LLC grew its position in SVMK by 691.0% in the 4th quarter. Emerald Advisers LLC now owns 669,586 shares of the company’s stock valued at $8,216,000 after buying an additional 584,935 shares in the last quarter. Vanguard Group Inc. bought a new position in SVMK in the 3rd quarter valued at about $4,328,000. Finally, BlackRock Inc. bought a new position in SVMK in the 3rd quarter valued at about $12,023,000. 59.36% of the stock is currently owned by institutional investors.

About SVMK

SVMK Inc provides survey software products and purpose-built solutions 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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