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.
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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).
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