ServiceSource International, Inc. (SREV) Posts Earnings Results, Beats Estimates By $0.03 EPS

ServiceSource International, Inc. (NASDAQ:SREV) posted its earnings results on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03, Briefing.com reports. ServiceSource International had a negative net margin of 17.26% and a negative return on equity of 3.70%. The company had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $56.26 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. ServiceSource International’s revenue for the quarter was down 5.9% compared to the same quarter last year.

Shares of ServiceSource International (SREV) traded up 1.23% on Friday, reaching $3.28. 240,723 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $3.74 and a 200 day moving average of $3.87. ServiceSource International has a one year low of $2.82 and a one year high of $6.25. The firm’s market capitalization is $292.54 million.

A number of equities research analysts recently commented on SREV shares. Zacks Investment Research raised shares of ServiceSource International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub cut shares of ServiceSource International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Northland Securities set a $5.00 target price on shares of ServiceSource International and gave the company a “hold” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned 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.

ILLEGAL ACTIVITY WARNING: This story was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.com-unik.info/2017/08/19/servicesource-international-inc-srev-posts-quarterly-earnings-results-beats-expectations-by-0-03-eps-updated.html.

In other ServiceSource International news, Director Steven Cakebread sold 29,692 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $3.22, for a total value of $95,608.24. Following the transaction, the director now directly owns 64,943 shares of the company’s stock, valued at approximately $209,116.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of ServiceSource International during the fourth quarter valued at about $141,000. Norges Bank purchased a new position in shares of ServiceSource International during the fourth quarter valued at about $4,577,000. Essex Investment Management Co. LLC boosted its position in shares of ServiceSource International by 34.3% in the first quarter. Essex Investment Management Co. LLC now owns 229,374 shares of the technology company’s stock valued at $890,000 after buying an additional 58,545 shares in the last quarter. Primecap Management Co. CA boosted its position 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 valued at $50,497,000 after buying an additional 116,400 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of ServiceSource International by 4.9% in the first quarter. Renaissance Technologies LLC now owns 2,194,646 shares of the technology company’s stock valued at $8,515,000 after buying an additional 102,600 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors.

About ServiceSource International

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).

Earnings History for ServiceSource International (NASDAQ:SREV)

What are top analysts saying about ServiceSource International Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ServiceSource International Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit