ServiceSource International, Inc. (SREV) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of ServiceSource International, Inc. (NASDAQ:SREV) from a hold rating to a sell rating in a research note issued to investors on Monday.

Several other brokerages also recently weighed in on SREV. Zacks Investment Research downgraded shares of ServiceSource International from a strong-buy rating to a hold rating in a research note on Wednesday, July 12th. Northland Securities set a $5.00 price target on shares of ServiceSource International and gave the stock a hold rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. ServiceSource International has a consensus rating of Hold and a consensus target price of $5.58.

ServiceSource International (NASDAQ SREV) opened at 3.24 on Monday. The company’s 50 day moving average is $3.76 and its 200 day moving average is $3.89. ServiceSource International has a 12-month low of $2.82 and a 12-month high of $6.25. The company’s market cap is $288.97 million.

ServiceSource International (NASDAQ:SREV) last announced its earnings results on Monday, August 7th. The technology company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $58.30 million for the quarter, compared to the consensus estimate of $56.26 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’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 fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of SREV. California State Teachers Retirement System boosted its position in shares of ServiceSource International by 11.7% in the second quarter. California State Teachers Retirement System now owns 134,274 shares of the technology company’s stock valued at $521,000 after buying an additional 14,100 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in ServiceSource International by 31.2% in the second quarter. The Manufacturers Life Insurance Company now owns 65,379 shares of the technology company’s stock worth $253,000 after buying an additional 15,540 shares in the last quarter. State Street Corp boosted its stake in ServiceSource International by 13.0% in the second quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock worth $4,406,000 after buying an additional 130,675 shares in the last quarter. Lyon Street Capital LLC purchased a new stake in ServiceSource International during the second quarter worth $279,000. Finally, Goldman Sachs Group Inc. boosted its stake in ServiceSource International by 2.0% in the second quarter. Goldman Sachs Group Inc. now owns 40,261 shares of the technology company’s stock worth $156,000 after buying an additional 794 shares in the last quarter. Institutional investors own 66.55% of the company’s stock.

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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