Cvent Inc (CVT) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on May 9, 2016.
Many Wall Street Analysts have commented on Cvent Inc. Shares were Reiterated by Needham on Feb 23, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $38 .
On the company’s financial health, Cvent Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.08. The company had revenue of $48.40 million for the quarter, compared to analysts expectations of $47.81 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.
Cvent Inc opened for trading at $35.56 and hit $35.87 on the upside on Friday, eventually ending the session at $35.65, with a gain of 0.22% or 0.08 points. The heightened volatility saw the trading volume jump to 5,12,881 shares. Company has a market cap of $1,504 M.
In a different news, on Apr 8, 2016, David C. Quattrone (Chief Technology Officer) sold 4,000 shares at $22.00 per share price. According to the SEC, on Mar 23, 2016, Bharet Malhotra (SVP, Sales) sold 500 shares at $21.51 per share price. On Feb 24, 2016, Charles V. Ghoorah (President of Sales & Marketing) sold 4,000 shares at $20.33 per share price, according to the Form-4 filing with the securities and exchange commission.
Cvent Inc. is a cloud-based enterprise event management platform. The Company provides solutions for both sides of the events and meetings value chain such as event and meeting planners and hotels and venues. The Company’s integrated cloud-based solution is used in the entire event lifecycle by allowing event and meeting planners to organize market and manage their meetings conferences tradeshows and other events. Its hospitality cloud provides hotels and venues with a solution suite to generate manage and measure their demand for group meetings. For the event and meeting planner side of the value chain which includes corporations associations not-for-profits Government agencies and universities and events and meetings? It offers six product categories which include event management software enterprise solutions software mobile event apps pre- and post-event feedback management software ticketing software and the Hospitality Cloud which includes CSN.