SVMK (NASDAQ:SVMK) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

SVMK (NASDAQ:SVMK) posted its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04, Briefing.com reports. The business had revenue of $75.14 million during the quarter, compared to the consensus estimate of $72.72 million. During the same period last year, the firm earned ($0.02) EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. SVMK updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.

NASDAQ:SVMK traded up $2.96 during mid-day trading on Friday, hitting $19.47. 4,620,639 shares of the stock traded hands, compared to its average volume of 1,504,967. The firm’s 50-day moving average is $16.83. The company has a market cap of $2.29 billion and a P/E ratio of -13.62. SVMK has a 12-month low of $10.05 and a 12-month high of $20.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.31 and a current ratio of 1.31.

Several analysts have recently issued reports on the stock. SunTrust Banks reissued a “buy” rating and issued a $22.00 price target on shares of SVMK in a research report on Tuesday. Zacks Investment Research raised shares of SVMK from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, UBS Group raised shares of SVMK from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.88.

In related news, CEO Alexander J. Lurie sold 16,489 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $16.39, for a total transaction of $270,254.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $15.82, for a total transaction of $71,190,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,690,448 shares of company stock valued at $74,384,195. 26.30% of the stock is owned by corporate insiders.

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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