Marketo Inc (NASDAQ:MKTO) Receives $32.75 Consensus Target Price from Analysts
Marketo Inc (NASDAQ:MKTO) has earned an average rating of “Hold” from the nineteen brokerages that are presently covering the firm. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.75.
Several analysts have weighed in on MKTO shares. Vetr raised Marketo from a “sell” rating to a “hold” rating and set a $34.30 price target on the stock in a report on Wednesday, June 8th. Zacks Investment Research cut Marketo from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Canaccord Genuity cut Marketo from a “buy” rating to a “hold” rating and raised their price target for the company from $26.00 to $35.25 in a report on Wednesday, June 1st. Raymond James Financial Inc. cut Marketo from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 1st. Finally, JMP Securities cut Marketo from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 15th.
Marketo (NASDAQ:MKTO) opened at 35.25 on Monday. Marketo has a 52-week low of $12.86 and a 52-week high of $35.30. The firm’s 50-day moving average is $35.02 and its 200-day moving average is $26.18.
In other news, EVP Steven M. Winter sold 2,656 shares of Marketo stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $35.15, for a total value of $93,358.40. Following the sale, the executive vice president now directly owns 84,350 shares in the company, valued at approximately $2,964,902.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phillip M. Fernandez sold 21,600 shares of Marketo stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $34.98, for a total value of $755,568.00. Following the completion of the sale, the chief executive officer now owns 169,681 shares in the company, valued at $5,935,441.38. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of MKTO. Omni Partners LLP acquired a new stake in shares of Marketo during the second quarter worth $400,000. Litespeed Management L.L.C. acquired a new stake in shares of Marketo during the second quarter worth $34,778,000. CNH Partners LLC acquired a new stake in shares of Marketo during the second quarter worth $34,237,000. Credit Suisse AG raised its stake in shares of Marketo by 3,076.8% in the second quarter. Credit Suisse AG now owns 761,228 shares of the company’s stock worth $26,506,000 after buying an additional 737,266 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Marketo by 6,503.3% in the first quarter. Goldman Sachs Group Inc. now owns 630,223 shares of the company’s stock worth $12,333,000 after buying an additional 620,679 shares in the last quarter.
Marketo, Inc is a United States-based provider of a cloud-based Engagement Marketing software platform, which enables organizations to involve in engagement marketing. The Company’s platform offers a range applications across various categories, including Marketing Automation, which helps to organize personalized multi-channel marketing campaigns and workflows; Email Marketing, which provides the ability to tap the insights captured in the Audience Hub to send e-mail messages; Mobile Engagement, which engages customers on their mobile devices; Digital Ads, which allows marketers to focus on behavioral data captured in the Audience Hub for personalized digital advertisements; Web Personalization, which helps in personalizing experiences to engage people; Marketing Analytics; Predictive Content, which discovers Website assets, such as e-books and case studies; Marketing Calendar, and Sales Insight.
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