Servicesource International (NASDAQ:SREV) Rating Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Servicesource International (NASDAQ:SREV) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, September 20th.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Servicesource International from a hold rating to a strong sell rating in a report on Saturday, August 11th. ValuEngine raised shares of Servicesource International from a sell rating to a hold rating in a report on Saturday, June 2nd.

NASDAQ:SREV traded down $0.06 during mid-day trading on Thursday, reaching $2.53. The stock had a trading volume of 1,003,105 shares, compared to its average volume of 381,694. The company has a market cap of $261.75 million, a P/E ratio of 31.63 and a beta of 1.03. Servicesource International has a twelve month low of $2.49 and a twelve month high of $4.47.

Servicesource International (NASDAQ:SREV) last issued its earnings results on Monday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. Servicesource International had a negative net margin of 10.52% and a positive return on equity of 0.73%. The company had revenue of $61.11 million during the quarter, compared to analysts’ expectations of $59.47 million. As a group, analysts predict that Servicesource International will post -0.01 earnings per share for the current fiscal year.

In other Servicesource International news, Director Bruce Dunlevie acquired 30,335 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $2.98 per share, with a total value of $90,398.30. Following the purchase, the director now directly owns 141,182 shares in the company, valued at approximately $420,722.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of Servicesource International by 1,497.1% in the 1st quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock valued at $5,428,000 after purchasing an additional 1,335,408 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Servicesource International by 42.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,374,367 shares of the technology company’s stock valued at $17,235,000 after purchasing an additional 1,307,221 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Servicesource International by 28.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,303,232 shares of the technology company’s stock valued at $5,137,000 after purchasing an additional 291,532 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of Servicesource International by 11.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 150,015 shares of the technology company’s stock valued at $591,000 after purchasing an additional 15,220 shares during the last quarter. Finally, Harvest Capital Strategies LLC boosted its holdings in shares of Servicesource International by 21.2% in the 1st quarter. Harvest Capital Strategies LLC now owns 8,302,914 shares of the technology company’s stock valued at $31,634,000 after purchasing an additional 1,454,088 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

About Servicesource International

ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.

Featured Story: What is an Initial Public Offering (IPO)?

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

Leave a Reply