SVMK Inc’s (SVMK) Quiet Period Set To Expire Tomorrow

SVMK’s (NASDAQ:SVMK) quiet period is set to end on Monday, November 5th. SVMK had issued 15,000,000 shares in its initial public offering on September 26th. The total size of the offering was $180,000,000 based on an initial share price of $12.00. During SVMK’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

SVMK has been the topic of a number of research reports. SunTrust Banks initiated coverage on shares of SVMK in a report on Monday, October 22nd. They issued a “buy” rating and a $16.00 price objective on the stock. JMP Securities initiated coverage on shares of SVMK in a report on Monday, October 22nd. They issued an “outperform” rating and a $16.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of SVMK in a report on Monday, October 22nd. They issued a “neutral” rating and a $13.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of SVMK in a report on Monday, October 22nd. They issued an “overweight” rating and a $15.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of SVMK in a report on Monday, October 22nd. They issued a “neutral” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $15.17.

SVMK opened at $11.57 on Friday. SVMK has a 12-month low of $10.05 and a 12-month high of $20.00.

In other SVMK news, Director Ryan Finley acquired 80,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were bought at an average price of $12.00 per share, with a total value of $960,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

A number of large investors have recently modified their holdings of the business. Glynn Capital Management LLC purchased a new position in SVMK during the third quarter valued at approximately $404,000. Emerald Advisers Inc. PA purchased a new position in SVMK during the third quarter valued at approximately $1,357,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in SVMK during the third quarter valued at approximately $2,093,000.

SVMK Company Profile

SurveyMonkey Inc develops online survey software to Fortune 100 companies, other businesses, academic institutions, organizations, and individuals worldwide. It offers SurveyMonkey that enables users to design and send professional surveys, and perform data analysis, as well as support various projects, teams, and organizations; SurveyMonkey CX, a Net Promoter Score (NPS) solution to collect, understand, and act on customer feedback; and Wufoo, which helps users to create contact forms, online surveys, and invitations.

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