Servicesource International (SREV) Stock Price Down 2.5%

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Servicesource International Inc (NASDAQ:SREV)’s share price fell 2.5% on Thursday . The company traded as low as $1.20 and last traded at $1.19. 7,518 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 592,737 shares. The stock had previously closed at $1.22.

A number of research firms have recently weighed in on SREV. BidaskClub lowered Servicesource International from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. B. Riley set a $2.00 price objective on Servicesource International and gave the stock a “buy” rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded Servicesource International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, JMP Securities downgraded Servicesource International from an “outperform” rating to a “market perform” rating in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $2.00.

The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.32.

Servicesource International (NASDAQ:SREV) last posted its earnings results on Wednesday, November 7th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $57.17 million for the quarter, compared to the consensus estimate of $56.98 million. Servicesource International had a negative return on equity of 2.70% and a negative net margin of 11.15%. On average, equities research analysts predict that Servicesource International Inc will post -0.07 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in shares of Servicesource International by 12.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 378,287 shares of the technology company’s stock worth $1,491,000 after buying an additional 41,787 shares in the last quarter. Millennium Management LLC raised its position in Servicesource International by 76.9% during the second quarter. Millennium Management LLC now owns 2,519,445 shares of the technology company’s stock valued at $9,927,000 after purchasing an additional 1,094,838 shares during the period. Renaissance Technologies LLC raised its position in Servicesource International by 42.6% during the second quarter. Renaissance Technologies LLC now owns 4,374,367 shares of the technology company’s stock valued at $17,235,000 after purchasing an additional 1,307,221 shares during the period. Northern Trust Corp raised its position in Servicesource International by 3.7% during the second quarter. Northern Trust Corp now owns 895,825 shares of the technology company’s stock valued at $3,529,000 after purchasing an additional 31,841 shares during the period. Finally, BlackRock Inc. raised its position in Servicesource International by 10.8% during the second quarter. BlackRock Inc. now owns 5,188,090 shares of the technology company’s stock valued at $20,443,000 after purchasing an additional 506,561 shares during the period. Institutional investors own 71.84% of the company’s stock.

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About Servicesource International (NASDAQ:SREV)

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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