Zacks Investment Research Downgrades SVMK (NASDAQ:SVMK) to Sell

SVMK (NASDAQ:SVMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “SVMK Inc. develops survey software. The Company offers a platform which enables organizations to collect and analyze feedback and insights which solves business problems, enhances customer experience and loyalty, improves employee productivity, retention, optimization and marketing investments. SVMK Inc. is based in San Mateo, United States. “

SVMK has been the topic of a number of other research reports. SunTrust Banks reiterated a “buy” rating and issued a $22.00 price target on shares of SVMK in a research note on Tuesday, July 30th. UBS Group upgraded shares of SVMK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $24.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. SVMK has an average rating of “Buy” and a consensus target price of $17.88.

SVMK stock traded up $0.76 during mid-day trading on Tuesday, reaching $18.87. The stock had a trading volume of 30,077 shares, compared to its average volume of 1,400,306. The firm has a market cap of $2.38 billion and a P/E ratio of -13.23. The company’s 50-day moving average price is $17.06. SVMK has a one year low of $10.05 and a one year high of $20.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.31 and a quick ratio of 1.31.

SVMK (NASDAQ:SVMK) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $75.14 million for the quarter, compared to analysts’ expectations of $72.72 million. SVMK had a negative net margin of 59.16% and a negative return on equity of 27.56%. SVMK’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. On average, analysts forecast that SVMK will post -0.58 EPS for the current year.

In other news, Director Benjamin C. Spero sold 14,100 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.12, for a total transaction of $227,292.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of the company’s stock in a transaction dated 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. Insiders have sold a total of 4,690,448 shares of company stock valued at $74,384,195 in the last ninety days. Insiders own 26.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of SVMK by 341.2% during the 1st quarter. FMR LLC now owns 14,186,773 shares of the company’s stock valued at $258,342,000 after acquiring an additional 10,971,548 shares during the period. Miura Global Management LLC grew its stake in shares of SVMK by 400.0% during the 1st quarter. Miura Global Management LLC now owns 3,500,000 shares of the company’s stock valued at $63,735,000 after acquiring an additional 2,800,000 shares during the period. BlackRock Inc. grew its stake in shares of SVMK by 166.2% during the 4th quarter. BlackRock Inc. now owns 1,996,824 shares of the company’s stock valued at $24,501,000 after acquiring an additional 1,246,826 shares during the period. First Trust Advisors LP bought a new position in shares of SVMK during the 2nd quarter valued at approximately $17,532,000. Finally, Emerald Advisers LLC grew its stake in shares of SVMK by 84.1% during the 2nd quarter. Emerald Advisers LLC now owns 1,007,838 shares of the company’s stock valued at $16,639,000 after acquiring an additional 460,430 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

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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