Servicesource International (SREV) Upgraded to “Buy” by BidaskClub

Servicesource International (NASDAQ:SREV) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

A number of other analysts also recently commented on SREV. Northland Securities reiterated a “hold” rating and issued a $5.25 price objective on shares of Servicesource International in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Servicesource International from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Thursday, October 19th.

Servicesource International (SREV) opened at $3.36 on Wednesday. Servicesource International has a 1 year low of $2.61 and a 1 year high of $6.05. The firm has a market cap of $303.82, a PE ratio of -7.64 and a beta of 1.20.

Servicesource International (NASDAQ:SREV) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $58.10 million during the quarter, compared to the consensus estimate of $56.55 million. Servicesource International had a negative net margin of 15.89% and a negative return on equity of 1.35%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. research analysts forecast that Servicesource International will post -0.02 earnings per share for the current year.

In other news, CEO Christopher Carrington purchased 33,900 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $2.95 per share, with a total value of $100,005.00. Following the purchase, the chief executive officer now directly owns 853,202 shares in the company, valued at approximately $2,516,945.90. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 17.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Servicesource International by 2.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 40,261 shares of the technology company’s stock worth $156,000 after purchasing an additional 794 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Servicesource International by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 263,112 shares of the technology company’s stock worth $1,021,000 after purchasing an additional 1,615 shares during the period. Alliancebernstein L.P. boosted its position in shares of Servicesource International by 17.1% during the 2nd quarter. Alliancebernstein L.P. now owns 43,920 shares of the technology company’s stock worth $170,000 after purchasing an additional 6,400 shares during the period. Voya Investment Management LLC boosted its position in shares of Servicesource International by 22.7% during the 2nd quarter. Voya Investment Management LLC now owns 36,641 shares of the technology company’s stock worth $142,000 after purchasing an additional 6,789 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Servicesource International by 21.7% during the 2nd quarter. Nationwide Fund Advisors now owns 42,721 shares of the technology company’s stock worth $166,000 after purchasing an additional 7,607 shares during the period. 68.49% of the stock is owned by institutional investors and hedge funds.

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Servicesource International Company Profile

ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).

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