In a report released today, Zach Cummins from B.Riley FBR maintained a Buy rating on ServiceSource International Inc (NASDAQ: SREV), with a price target of $5. The company’s shares opened today at $2.82, close to its 52-week low of $2.61.
Cummins wrote:
“Yesterday (9/20), we hosted a non-deal roadshow with CFO, Robert “Bob” Pinkerton and SVP of International (SREV) with institutional investors. We came away from the meetings increasingly more confident that SREV is progressing towards its long-term financial targets of double-digit revenue growth and mid-teens adjusted EBITDA margin. In our view, many investors are underappreciating SREV’s momentum with its inside sales and customer success solutions. While still early days, we believe the outsourced inside sales market could ultimately develop into a massive greenfield opportunity for SREV in the coming years.”
According to TipRanks.com, Cummins is a 1-star analyst with an average return of -10.9% and a 14.3% success rate. Cummins covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, ChannelAdvisor, and Determine Inc.
ServiceSource International Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Based on ServiceSource International Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.89 million. In comparison, last year the company had a GAAP net loss of $13.1 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SREV in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
ServiceSource International, Inc. engages in the provision of performance-based customer success and revenue growth solutions. It offers inside sales, revenue retention, sales enablement, and channel management. The company was founded by Michael A. Smerklo in November 2002 and is headquartered in Denver, CO.
