SunTrust Banks Reiterates Buy Rating for SVMK (NASDAQ:SVMK)

SVMK (NASDAQ:SVMK)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks in a note issued to investors on Thursday, TipRanks reports. They currently have a $24.00 price target on the stock. SunTrust Banks’ price target would indicate a potential upside of 10.04% from the stock’s previous close.

SVMK has been the topic of a number of other research reports. ValuEngine upgraded shares of SVMK from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Co raised their target price on shares of SVMK from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.50.

Shares of NASDAQ:SVMK opened at $21.81 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -36.35 and a beta of 1.60. The business has a 50-day simple moving average of $18.66 and a two-hundred day simple moving average of $17.87. SVMK has a fifty-two week low of $11.60 and a fifty-two week high of $22.03.

SVMK (NASDAQ:SVMK) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. The firm had revenue of $84.32 million for the quarter, compared to the consensus estimate of $83.83 million. SVMK had a negative net margin of 26.72% and a negative return on equity of 29.90%. As a group, research analysts predict that SVMK will post -0.56 earnings per share for the current year.

In other SVMK news, CEO Alexander J. Lurie sold 100,703 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $19.96, for a total value of $2,010,031.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erika H. James sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $20.03, for a total value of $701,050.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 331,529 shares of company stock valued at $6,433,006. 26.30% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Castleark Management LLC increased its holdings in SVMK by 35.3% during the third quarter. Castleark Management LLC now owns 381,815 shares of the company’s stock valued at $6,529,000 after buying an additional 99,585 shares during the last quarter. Riverstone Group LLC bought a new stake in shares of SVMK during the 3rd quarter valued at $9,727,000. Russell Investments Group Ltd. purchased a new stake in shares of SVMK in the 3rd quarter worth $1,383,000. Rhumbline Advisers increased its stake in shares of SVMK by 0.9% in the 3rd quarter. Rhumbline Advisers now owns 106,076 shares of the company’s stock worth $1,814,000 after purchasing an additional 897 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of SVMK in the 3rd quarter worth $524,000. Hedge funds and other institutional investors own 75.31% of the company’s stock.

About SVMK

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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