Analysts forecast that Servicesource International Inc (NASDAQ:SREV) will announce $56.98 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Servicesource International’s earnings, with estimates ranging from $56.97 million to $57.00 million. Servicesource International reported sales of $58.13 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2%. The company is expected to announce its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Servicesource International will report full-year sales of $238.69 million for the current fiscal year, with estimates ranging from $237.99 million to $239.39 million. For the next fiscal year, analysts anticipate that the business will report sales of $247.53 million, with estimates ranging from $242.50 million to $252.55 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Servicesource International.
Servicesource International (NASDAQ:SREV) last announced its quarterly earnings data on Monday, August 6th. The technology company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $61.11 million during the quarter, compared to analyst estimates of $59.47 million. Servicesource International had a negative net margin of 10.52% and a positive return on equity of 0.73%.
Several research analysts have weighed in on the stock. BidaskClub raised shares of Servicesource International from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research lowered shares of Servicesource International from a “hold” rating to a “strong sell” rating in a report on Saturday, August 11th. B. Riley set a $5.00 price target on shares of Servicesource International and gave the company a “buy” rating in a report on Friday, September 21st. Finally, JMP Securities lowered shares of Servicesource International from an “outperform” rating to a “market perform” rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $3.00.
SREV stock traded up $0.02 during mid-day trading on Friday, hitting $1.38. 691,168 shares of the company were exchanged, compared to its average volume of 504,279. The firm has a market cap of $122.15 million, a P/E ratio of 17.25 and a beta of 1.81. Servicesource International has a twelve month low of $1.23 and a twelve month high of $4.47.
In other Servicesource International news, Director Bruce Dunlevie purchased 30,335 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $2.98 per share, with a total value of $90,398.30. Following the acquisition, the director now owns 141,182 shares of the company’s stock, valued at approximately $420,722.36. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 19.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SREV. Millennium Management LLC boosted its stake in Servicesource International by 1,497.1% during the 1st quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock valued at $5,428,000 after purchasing an additional 1,335,408 shares during the period. Renaissance Technologies LLC boosted its stake in Servicesource International by 42.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,374,367 shares of the technology company’s stock valued at $17,235,000 after purchasing an additional 1,307,221 shares during the period. BlackRock Inc. boosted its stake in Servicesource International by 10.8% during the 2nd quarter. BlackRock Inc. now owns 5,188,090 shares of the technology company’s stock valued at $20,443,000 after purchasing an additional 506,561 shares during the period. Russell Investments Group Ltd. boosted its stake in Servicesource International by 33.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,734,838 shares of the technology company’s stock valued at $4,944,000 after purchasing an additional 431,606 shares during the period. Finally, Smith Asset Management Group LP acquired a new position in Servicesource International during the 2nd quarter valued at about $750,000. 71.18% of the stock is owned by hedge funds and other institutional investors.
Servicesource International Company Profile
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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