ServiceSource International, Inc. (SREV) Downgraded by Zacks Investment Research to Hold

ServiceSource International, Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, July 12th.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

Separately, TheStreet downgraded shares of ServiceSource International from a “c-” rating to a “d+” rating in a research report on Wednesday, April 5th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. ServiceSource International currently has an average rating of “Hold” and an average target price of $5.58.

ServiceSource International (SREV) traded up 0.85% on Wednesday, hitting $3.55. 197,408 shares of the company’s stock were exchanged. ServiceSource International has a 12-month low of $2.82 and a 12-month high of $6.25. The company’s market cap is $316.62 million. The company’s 50-day moving average price is $3.80 and its 200-day moving average price is $3.96.

ServiceSource International (NASDAQ:SREV) last released its quarterly earnings results on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. ServiceSource International had a negative net margin of 17.26% and a negative return on equity of 3.70%. The firm had revenue of $58.30 million during the quarter, compared to the consensus estimate of $56.26 million. During the same quarter in the prior year, the firm earned $0.01 EPS. ServiceSource International’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts forecast that ServiceSource International will post $0.06 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in ServiceSource International by 6.0% in the first quarter. Geode Capital Management LLC now owns 507,246 shares of the technology company’s stock worth $1,968,000 after buying an additional 28,589 shares during the period. Vanguard Group Inc. boosted its stake in shares of ServiceSource International by 10.7% in the first quarter. Vanguard Group Inc. now owns 2,480,558 shares of the technology company’s stock worth $9,624,000 after buying an additional 240,079 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of ServiceSource International by 0.9% in the first quarter. Primecap Management Co. CA now owns 13,014,636 shares of the technology company’s stock worth $50,497,000 after buying an additional 116,400 shares during the last quarter. Concourse Capital Management LLC acquired a new stake in shares of ServiceSource International during the first quarter worth approximately $282,000. Finally, American International Group Inc. boosted its stake in shares of ServiceSource International by 7.1% in the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock worth $146,000 after buying an additional 2,484 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.

ServiceSource International Company Profile

ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).

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