ServiceSource (NASDAQ:SREV) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also recently issued research reports about the stock. B. Riley initiated coverage on shares of ServiceSource in a research report on Tuesday, March 27th. They set a “buy” rating and a $5.00 price objective on the stock. Zacks Investment Research raised shares of ServiceSource from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. Finally, ValuEngine cut shares of ServiceSource from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. ServiceSource currently has a consensus rating of “Hold” and an average price target of $4.75.
ServiceSource opened at $4.05 on Friday, MarketBeat Ratings reports. The stock has a market cap of $363.88 million, a PE ratio of 50.63 and a beta of 1.02. ServiceSource has a 1 year low of $2.61 and a 1 year high of $4.17.
ServiceSource (NASDAQ:SREV) last released its quarterly earnings data on Thursday, May 3rd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $54.47 million. ServiceSource had a negative net margin of 12.40% and a positive return on equity of 4.47%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SREV. JPMorgan Chase & Co. bought a new position in ServiceSource in the 3rd quarter valued at about $139,000. Dimensional Fund Advisors LP lifted its position in ServiceSource by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 599,331 shares of the technology company’s stock valued at $2,074,000 after acquiring an additional 26,440 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in ServiceSource by 17.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 325,970 shares of the technology company’s stock valued at $1,008,000 after acquiring an additional 47,973 shares in the last quarter. SG Americas Securities LLC bought a new position in ServiceSource in the 4th quarter valued at about $159,000. Finally, BlackRock Inc. lifted its position in ServiceSource by 0.8% in the 4th quarter. BlackRock Inc. now owns 4,676,802 shares of the technology company’s stock valued at $14,450,000 after acquiring an additional 35,525 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include 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, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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