SVMK (NASDAQ:SVMK) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of SVMK (NASDAQ:SVMK) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, 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. “

A number of other analysts also recently issued reports on SVMK. UBS Group raised SVMK from a neutral rating to a buy rating and raised their target price for the stock from $18.00 to $24.00 in a research note on Friday, August 2nd. SunTrust Banks reaffirmed a buy rating and issued a $22.00 target price on shares of SVMK in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. SVMK has an average rating of Buy and an average target price of $17.88.

Shares of SVMK opened at $18.08 on Wednesday. SVMK has a 52-week low of $10.05 and a 52-week high of $20.00. The stock has a fifty day simple moving average of $17.71 and a two-hundred day simple moving average of $17.04. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.03.

SVMK (NASDAQ:SVMK) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. SVMK had a negative return on equity of 25.79% and a negative net margin of 59.16%. The business had revenue of $75.14 million during the quarter, compared to the consensus estimate of $72.72 million. During the same period last year, the company earned ($0.02) EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, research analysts predict that SVMK will post -0.61 EPS for the current fiscal year.

In other news, President Thomas E. Hale sold 25,794 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $17.30, for a total transaction of $446,236.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $15.82, for a total value of $71,190,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,772,639 shares of company stock valued at $75,901,324 over the last ninety days. Corporate insiders own 26.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SVMK. Bank of America Corp DE grew its holdings in shares of SVMK by 841.6% during the 4th quarter. Bank of America Corp DE now owns 20,159 shares of the company’s stock worth $248,000 after purchasing an additional 18,018 shares during the period. Deutsche Bank AG purchased a new position in shares of SVMK during the 4th quarter worth $72,000. BNP Paribas Arbitrage SA grew its holdings in shares of SVMK by 3,055.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,786 shares of the company’s stock worth $69,000 after purchasing an additional 3,666 shares during the period. Bank of Montreal Can purchased a new position in shares of SVMK during the 1st quarter worth $223,000. Finally, Janus Henderson Group PLC purchased a new position in shares of SVMK during the 1st quarter worth $819,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

SVMK Company Profile

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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