Servicesource International Inc (SREV) Expected to Post Quarterly Sales of $53.16 Million

Brokerages forecast that Servicesource International Inc (NASDAQ:SREV) will report $53.16 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Servicesource International’s earnings. The lowest sales estimate is $53.00 million and the highest is $53.31 million. Servicesource International posted sales of $58.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.3%. The business is expected to issue its next earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Servicesource International will report full year sales of $223.52 million for the current fiscal year, with estimates ranging from $220.53 million to $226.50 million. For the next financial year, analysts anticipate that the company will report sales of $230.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Servicesource International.

Servicesource International (NASDAQ:SREV) last released its earnings results on Wednesday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $61.47 million for the quarter, compared to analysts’ expectations of $61.10 million. Servicesource International had a negative return on equity of 5.00% and a negative net margin of 10.44%.

Several analysts have recently weighed in on the company. ValuEngine cut Servicesource International from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research cut Servicesource International from a “hold” rating to a “strong sell” rating in a report on Thursday, February 21st. Finally, B. Riley cut Servicesource International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $1.75 to $1.25 in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Servicesource International currently has a consensus rating of “Hold” and a consensus target price of $1.25.

In related news, CFO Richard Walker acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were bought at an average cost of $0.97 per share, with a total value of $97,000.00. Following the completion of the purchase, the chief financial officer now directly owns 554,763 shares in the company, valued at $538,120.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Ferron acquired 75,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $0.97 per share, for a total transaction of $72,750.00. Following the completion of the purchase, the director now owns 150,000 shares of the company’s stock, valued at $145,500. The disclosure for this purchase can be found here. 19.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Servicesource International in the fourth quarter valued at approximately $48,000. Brandywine Managers LLC acquired a new position in Servicesource International in the fourth quarter valued at approximately $82,000. Hamilton Lane Advisors LLC acquired a new position in Servicesource International in the fourth quarter valued at approximately $98,000. Rhumbline Advisers lifted its stake in Servicesource International by 43.8% in the fourth quarter. Rhumbline Advisers now owns 96,543 shares of the technology company’s stock valued at $104,000 after buying an additional 29,383 shares during the period. Finally, Standard Life Aberdeen plc acquired a new position in Servicesource International in the fourth quarter valued at approximately $192,000. 73.22% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SREV traded up $0.02 during midday trading on Friday, hitting $0.91. 2,215 shares of the stock were exchanged, compared to its average volume of 288,308. The stock has a market cap of $84.54 million, a P/E ratio of -23.50 and a beta of 1.74. Servicesource International has a 12 month low of $0.85 and a 12 month high of $4.47.

About Servicesource International

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, 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 services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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