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.

Recommended Story: S&P/ASX 200 Index

Analyst Recommendations for SVMK (NASDAQ:SVMK)

Receive News & Ratings for SVMK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVMK and related companies with MarketBeat.com's FREE daily email newsletter.