SVMK (SVMK) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of SVMK (NASDAQ:SVMK) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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. “

Several other equities analysts have also recently commented on SVMK. JPMorgan Chase & Co. raised their target price on shares of SVMK from $16.00 to $19.00 and gave the company an overweight rating in a research note on Friday, March 29th. Stephens initiated coverage on shares of SVMK in a research note on Friday, March 22nd. They issued an overweight rating and a $20.00 price objective on the stock. SunTrust Banks lifted their price objective on shares of SVMK to $19.00 and gave the stock a positive rating in a research note on Thursday, March 28th. Finally, ValuEngine cut shares of SVMK from a buy rating to a hold rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $16.38.

SVMK stock traded down $0.15 during trading hours on Wednesday, hitting $16.33. 28,228 shares of the company traded hands, compared to its average volume of 1,315,515. The stock has a market cap of $2.09 billion and a price-to-earnings ratio of -11.42. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.27. SVMK has a 1-year low of $10.05 and a 1-year high of $20.00.

SVMK (NASDAQ:SVMK) last released its earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.13. The company had revenue of $68.64 million for the quarter, compared to analyst estimates of $68.13 million. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Research analysts expect that SVMK will post -0.59 earnings per share for the current fiscal year.

In other news, CEO Alexander J. Lurie sold 8,100 shares of SVMK stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $11.79, for a total value of $95,499.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alexander J. Lurie sold 50,000 shares of SVMK stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $18.00, for a total transaction of $900,000.00. The disclosure for this sale can be found here. Insiders sold a total of 12,173,965 shares of company stock worth $184,796,905 in the last ninety days. Corporate insiders own 26.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SVMK. Jane Street Group LLC acquired a new stake in shares of SVMK during the first quarter worth approximately $571,000. Pentwater Capital Management LP boosted its holdings in shares of SVMK by 15.8% during the first quarter. Pentwater Capital Management LP now owns 177,744 shares of the company’s stock worth $3,237,000 after purchasing an additional 24,200 shares during the period. SEI Investments Co acquired a new stake in shares of SVMK during the first quarter worth approximately $635,000. Goldman Sachs Group Inc. boosted its holdings in shares of SVMK by 707.7% during the first quarter. Goldman Sachs Group Inc. now owns 91,725 shares of the company’s stock worth $1,670,000 after purchasing an additional 80,369 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of SVMK by 16.9% during the first quarter. ArrowMark Colorado Holdings LLC now owns 271,465 shares of the company’s stock worth $4,943,000 after purchasing an additional 39,321 shares during the period. Institutional investors own 59.36% 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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