After Merrill Lynch and JMP Securities gave SVMK Inc (NASDAQ: SVMK) a Buy rating last month, the company received another Buy, this time from SunTrust Robinson. Analyst Youssef Squali maintained a Buy rating on SVMK Inc today and set a price target of $19. The company’s shares closed yesterday at $17.
Squali observed:
“We maintain a positive stance on SVMK after hosting mgt for a round of investor meetings this week, and tweak estimates higher for 2020 and beyond to better account for the recent Usabilla acquisition. Mgt’s tone reflected continued optimism around its growth initiatives: Enterprise, Teams, and international expansion. We’re incrementally more positive about the recent acquisition of Usabilla, given its capabilities, pricing model, and geographic presence. Competition in mid-market remains limited, making this an execution story, in our view. PT of $19 (from $17) implies ~7x 2020 EV/revenue. Key highlight: While 2016-2018 was a period for a big push in product engineering and back-end systems under the new leadership, 2019-2020 is all about educating clients and selling the products.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 21.8% and a 69.3% success rate. Squali covers the Technology sector, focusing on stocks such as Match Group Inc, Trade Desk Inc, and Cardlytics Inc.
Currently, the analyst consensus on SVMK Inc is a Strong Buy with an average price target of $18.10, implying a 6.5% upside from current levels. In a report issued on March 21, Stephens also initiated coverage with a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $20 and a one-year low of $10.05. Currently, SVMK Inc has an average volume of 1.45M.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
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SVMK, Inc. engages in the provision of survey software products. Its People Powered Data platform enables organizations of any size to have conversations at scale to deliver customer, employee, and market insights. The company was founded by Ryan Finley in 1999 and is headquartered in San Mateo, CA.
