Wall Street brokerages predict that Servicesource International Inc (NASDAQ:SREV) will report $61.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Servicesource International’s earnings, with the highest sales estimate coming in at $62.06 million and the lowest estimate coming in at $60.13 million. Servicesource International reported sales of $66.02 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.5%. The company is scheduled to report its next earnings results after the market closes on Wednesday, February 20th.
On average, analysts expect that Servicesource International will report full-year sales of $237.97 million for the current fiscal year, with estimates ranging from $237.00 million to $238.93 million. For the next financial year, analysts expect that the company will report sales of $230.10 million, with estimates ranging from $230.00 million to $230.19 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Servicesource International.
Servicesource International (NASDAQ:SREV) last announced its quarterly earnings results on Wednesday, November 7th. The technology company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The business had revenue of $57.17 million for the quarter, compared to analyst estimates of $56.98 million. Servicesource International had a negative return on equity of 2.70% and a negative net margin of 11.15%.
Several analysts recently commented on the company. JMP Securities lowered Servicesource International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 19th. B. Riley reaffirmed a “buy” rating and issued a $3.00 price target on shares of Servicesource International in a research note on Friday, October 19th. Zacks Investment Research lowered Servicesource International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, ValuEngine raised Servicesource International from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $2.00.
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Servicesource International in the 4th quarter valued at $48,000. Rhumbline Advisers raised its position in Servicesource International by 43.8% in the 4th quarter. Rhumbline Advisers now owns 96,543 shares of the technology company’s stock valued at $104,000 after purchasing an additional 29,383 shares during the last quarter. Horrell Capital Management Inc. bought a new position in Servicesource International in the 4th quarter valued at $756,000. Hamilton Lane Advisors LLC bought a new position in Servicesource International in the 4th quarter valued at $98,000. Finally, Assenagon Asset Management S.A. bought a new position in Servicesource International in the 4th quarter valued at $498,000. 73.17% of the stock is currently owned by institutional investors and hedge funds.
SREV stock traded down $0.01 during trading on Friday, hitting $1.17. The company had a trading volume of 201,348 shares, compared to its average volume of 504,706. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.91 and a quick ratio of 3.91. The firm has a market cap of $108.48 million, a price-to-earnings ratio of 14.63 and a beta of 1.89. Servicesource International has a fifty-two week low of $0.92 and a fifty-two week high of $4.47.
Servicesource International Company Profile
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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