Needham analyst Ryan MacDonald initiated coverage with a Buy rating on SVMK (SVMK) today and set a price target of $24.00. The company’s shares closed last Wednesday at $18.95.
According to TipRanks.com, MacDonald is a 5-star analyst with an average return of 23.4% and a 71.7% success rate. MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, ChannelAdvisor, and Coupa Software.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SVMK with a $22.00 average price target, which is a 18.4% upside from current levels. In a report issued on May 8, SunTrust Robinson also maintained a Buy rating on the stock with a $24.00 price target.
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Based on SVMK’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $88.27 million and GAAP net loss of $24.25 million. In comparison, last year the company earned revenue of $68.64 million and had a GAAP net loss of $17.78 million.
Based on the recent corporate insider activity of 102 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SVMK in relation to earlier this year.
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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.
