SVMK Inc (NASDAQ: SVMK) received a Buy rating and a $16 price target from SunTrust Robinson analyst Youssef Squali today. The company’s shares closed on Friday at $13.02.
Squali commented:
“We believe SVMK is effectively leveraging its brand, freemium/easy-to-use product, large registered user base and infrastructure to sustainably grow revenues double digits and gain share in the large business intelligence market. The subscription model affords SVMK good revenue and cash flow visibility, while its enterprise upsell initiative/Salesforce partnership is a powerful source of future growth, in our view. We’re initiating with a Buy rating and $16 PT. Bringing more intelligence to decision making. SVMK Inc. (aka SurveyMonkey) is a leading global provider of survey software products with more than 16M registered users and more than 600K paying users. The software enables users to capture the human voice at scale, which allows clients to make better informed business decisions.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 19.7% and a 66.8% success rate. Squali covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Stitch Fix Inc, and Cimpress.
Currently, the analyst consensus on SVMK Inc is a Moderate Buy with an average price target of $16.
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Based on SVMK Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.46 million. In comparison, last year the company had a GAAP net loss of $12.98 million.
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SVMK, Inc. engages in the provision of survey software products. The company was founded by Ryan Finley in 1999 and is headquartered in San Mateo, CA.
