Zacks Investment Research Upgrades SVMK (SVMK) to Hold

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SVMK (NASDAQ:SVMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, 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 firms have also weighed in on SVMK. JPMorgan Chase & Co. upped their target price on SVMK from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, March 29th. SunTrust Banks upped their price target on SVMK to $19.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. Stephens assumed coverage on SVMK in a research report on Friday, March 22nd. They set an “overweight” rating and a $20.00 price target on the stock. Finally, ValuEngine downgraded SVMK from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $16.38.

SVMK stock traded down $0.14 during mid-day trading on Tuesday, reaching $16.61. 7,362 shares of the company were exchanged, compared to its average volume of 1,302,146. 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 cap of $2.22 billion and a P/E ratio of -11.60. SVMK has a 12-month low of $10.05 and a 12-month high of $20.00.

SVMK (NASDAQ:SVMK) last posted its earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $68.64 million for the quarter, compared to analysts’ expectations of $68.13 million. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Equities analysts expect that SVMK will post -0.59 earnings per share for the current year.

In other SVMK news, SVP Lora D. Blum sold 2,080 shares of the stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $13.09, for a total transaction of $27,227.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Timothy J. Maly sold 32,246 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $15.27, for a total value of $492,396.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,201,729 shares of company stock worth $185,380,952. Insiders own 26.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SVMK. Strs Ohio acquired a new stake in SVMK in the 4th quarter valued at about $58,000. BNP Paribas Arbitrage SA boosted its holdings in SVMK by 3,055.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,786 shares of the company’s stock worth $69,000 after buying an additional 3,666 shares in the last quarter. Deutsche Bank AG purchased a new stake in SVMK during the fourth quarter worth about $72,000. Legal & General Group Plc purchased a new stake in SVMK during the third quarter worth about $80,000. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in SVMK during the fourth quarter worth about $137,000. 59.36% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for SVMK (NASDAQ:SVMK)

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