ServiceSource International Inc. (SREV) Posts Earnings Results, Beats Estimates By $0.03 EPS
ServiceSource International Inc. (NASDAQ:SREV) issued its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $62.51 million for the quarter, compared to the consensus estimate of $61.14 million. ServiceSource International had a negative return on equity of 7.50% and a negative net margin of 12.68%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share.
ServiceSource International (NASDAQ:SREV) opened at 5.35 on Friday. ServiceSource International has a 52-week low of $3.35 and a 52-week high of $5.75. The firm’s market capitalization is $459.05 million. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.45.
A number of institutional investors have recently modified their holdings of SREV. Morgan Stanley boosted its position in shares of ServiceSource International by 49.8% in the third quarter. Morgan Stanley now owns 257,490 shares of the company’s stock valued at $1,255,000 after buying an additional 85,588 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of ServiceSource International by 0.9% in the third quarter. California State Teachers Retirement System now owns 129,174 shares of the company’s stock valued at $630,000 after buying an additional 1,200 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ServiceSource International during the third quarter valued at approximately $121,000. BlackRock Institutional Trust Company N.A. boosted its position in shares of ServiceSource International by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,661,708 shares of the company’s stock valued at $8,109,000 after buying an additional 19,807 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of ServiceSource International by 1.7% in the third quarter. Rhumbline Advisers now owns 60,444 shares of the company’s stock valued at $295,000 after buying an additional 1,000 shares in the last quarter. 74.75% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on SREV. Zacks Investment Research downgraded ServiceSource International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. TheStreet raised ServiceSource International from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. Finally, JMP Securities upped their target price on ServiceSource International from $7.00 to $8.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 24th.
ServiceSource International Company Profile
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.
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