SVMK (NASDAQ:SVMK) Stock Rating Lowered by Zacks Investment Research

SVMK (NASDAQ:SVMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, 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. “

A number of other research analysts have also recently issued reports on SVMK. SunTrust Banks lifted their price objective on shares of SVMK to $19.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Stephens began coverage on shares of SVMK in a report on Friday, March 22nd. They set an “overweight” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SVMK from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. SVMK presently has a consensus rating of “Hold” and a consensus target price of $16.75.

NASDAQ:SVMK opened at $16.49 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.22 billion and a price-to-earnings ratio of -11.53. SVMK has a 12 month low of $10.05 and a 12 month high of $20.00.

SVMK (NASDAQ:SVMK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $68.64 million during the quarter, compared to analyst estimates of $68.13 million. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. As a group, research analysts anticipate that SVMK will post -0.58 EPS for the current year.

In other news, major shareholder Tiger Global Management Llc sold 1,972,443 shares of SVMK stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $14.95, for a total transaction of $29,488,022.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alexander J. Lurie sold 50,000 shares of SVMK stock in a transaction dated Friday, March 29th. The shares were 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 have sold 2,095,505 shares of company stock valued at $31,589,648 over the last quarter. Corporate insiders own 26.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SVMK. FMR LLC grew its holdings in shares of SVMK by 341.2% during the first quarter. FMR LLC now owns 14,186,773 shares of the company’s stock valued at $258,342,000 after buying an additional 10,971,548 shares during the last quarter. Miura Global Management LLC lifted its position in shares of SVMK by 400.0% during the first quarter. Miura Global Management LLC now owns 3,500,000 shares of the company’s stock valued at $63,735,000 after purchasing an additional 2,800,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of SVMK by 166.2% during the fourth quarter. BlackRock Inc. now owns 1,996,824 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,246,826 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of SVMK during the third quarter valued at about $4,328,000. Finally, GAM Holding AG bought a new position in shares of SVMK during the fourth quarter valued at about $2,609,000. Hedge funds and other institutional investors own 72.02% 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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