Servicesource International (NASDAQ:SREV) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Servicesource International (NASDAQ:SREV) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. The firm currently has $1.00 price target on the technology company’s stock.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

Separately, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Servicesource International currently has an average rating of Hold and a consensus price target of $1.13.

Servicesource International stock opened at $1.02 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.26 and a quick ratio of 2.26. The stock has a market cap of $92.32 million, a P/E ratio of -25.50 and a beta of 1.53. The stock has a 50 day moving average of $0.99. Servicesource International has a twelve month low of $0.85 and a twelve month high of $3.88.

Servicesource International (NASDAQ:SREV) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $55.51 million for the quarter, compared to the consensus estimate of $53.16 million. Servicesource International had a negative return on equity of 4.20% and a negative net margin of 8.06%. Research analysts predict that Servicesource International will post -0.14 earnings per share for the current fiscal year.

In other Servicesource International news, CEO Gary B. Moore acquired 100,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $0.98 per share, with a total value of $98,000.00. Following the transaction, the chief executive officer now owns 806,198 shares of the company’s stock, valued at approximately $790,074.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. lifted its position in Servicesource International by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,611,664 shares of the technology company’s stock valued at $1,740,000 after acquiring an additional 282,391 shares in the last quarter. Geode Capital Management LLC lifted its position in Servicesource International by 62.5% in the 4th quarter. Geode Capital Management LLC now owns 1,183,158 shares of the technology company’s stock valued at $1,277,000 after acquiring an additional 455,237 shares in the last quarter. Two Sigma Investments LP lifted its position in Servicesource International by 60.9% in the 4th quarter. Two Sigma Investments LP now owns 767,998 shares of the technology company’s stock valued at $829,000 after acquiring an additional 290,766 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Servicesource International by 28.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 593,730 shares of the technology company’s stock valued at $547,000 after acquiring an additional 132,404 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Servicesource International by 24.9% in the 4th quarter. Two Sigma Advisers LP now owns 565,505 shares of the technology company’s stock valued at $611,000 after acquiring an additional 112,700 shares in the last quarter. 68.39% of the stock is currently owned by institutional investors and hedge funds.

About Servicesource International

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, 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 services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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