SVMK (NASDAQ:SVMK) Rating Lowered to Sell at Zacks Investment Research

Share on StockTwits

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

Other equities research analysts have also issued research reports about the company. UBS Group raised SVMK from a neutral rating to a buy rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Friday, August 2nd. SunTrust Banks reissued a buy rating and set a $22.00 target price on shares of SVMK in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. SVMK has a consensus rating of Buy and a consensus price target of $17.88.

Shares of NASDAQ SVMK opened at $18.08 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.09 and a quick ratio of 1.09. SVMK has a fifty-two week low of $10.05 and a fifty-two week high of $20.00. The stock’s 50-day simple moving average is $17.71 and its 200-day simple moving average is $17.04.

SVMK (NASDAQ:SVMK) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. SVMK had a negative return on equity of 25.79% and a negative net margin of 59.16%. The business had revenue of $75.14 million for the quarter, compared to analyst estimates of $72.72 million. During the same quarter last year, the company earned ($0.02) EPS. The business’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts predict that SVMK will post -0.61 earnings per share for the current fiscal year.

In other SVMK news, Director Dana L. Evan sold 45,000 shares of SVMK stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $17.40, for a total transaction of $783,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of SVMK stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $15.82, for a total value of $71,190,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,772,639 shares of company stock worth $75,901,324. 26.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Management Inc. purchased a new position in shares of SVMK in the 1st quarter valued at approximately $2,092,000. Emerald Advisers LLC grew its stake in shares of SVMK by 84.1% in the 2nd quarter. Emerald Advisers LLC now owns 1,007,838 shares of the company’s stock valued at $16,639,000 after purchasing an additional 460,430 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of SVMK by 176.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 348,362 shares of the company’s stock valued at $5,553,000 after purchasing an additional 222,499 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of SVMK in the 2nd quarter valued at approximately $72,000. Finally, CWM LLC purchased a new position in shares of SVMK in the 2nd quarter valued at approximately $4,421,000. 76.65% of the stock is currently owned by institutional investors.

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.

Featured Story: Is it Safe to Invest in Commodities?

Get a free copy of the Zacks research report on SVMK (SVMK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SVMK (NASDAQ:SVMK)

Receive News & Ratings for SVMK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVMK and related companies with MarketBeat.com's FREE daily email newsletter.