SVMK (NASDAQ:SVMK) Shares Up 17.9% After Earnings Beat

SVMK Inc (NASDAQ:SVMK) shot up 17.9% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $19.82 and last traded at $19.47, 4,620,639 shares were traded during mid-day trading. An increase of 207% from the average session volume of 1,504,967 shares. The stock had previously closed at $16.51.

The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $75.14 million during the quarter, compared to analyst estimates of $72.72 million. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share.

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

In related news, insider Rebecca Cantieri sold 4,148 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $18.00, for a total transaction of $74,664.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander J. Lurie sold 16,489 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $16.39, for a total value of $270,254.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,690,448 shares of company stock valued at $74,384,195. 26.30% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SVMK. Pennsylvania Trust Co purchased a new stake in SVMK in the first quarter valued at approximately $433,000. Geode Capital Management LLC lifted its stake in SVMK by 240.9% in the fourth quarter. Geode Capital Management LLC now owns 249,165 shares of the company’s stock valued at $3,057,000 after buying an additional 176,065 shares during the last quarter. Northern Trust Corp lifted its stake in SVMK by 354.9% in the fourth quarter. Northern Trust Corp now owns 247,733 shares of the company’s stock valued at $3,040,000 after buying an additional 193,279 shares during the last quarter. Stephens Inc. AR purchased a new stake in SVMK in the first quarter valued at approximately $835,000. Finally, MetLife Investment Advisors LLC purchased a new stake in SVMK in the fourth quarter valued at approximately $187,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $16.83. The stock has a market cap of $2.29 billion and a P/E ratio of -13.62.

SVMK Company Profile (NASDAQ: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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