Marketo Inc (MKTO) is Downgraded by Canaccord Genuity to Hold, Raises Price Target to $ 35.25

Marketo Inc (MKTO) was Downgraded by Canaccord Genuity to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 35.25 from a previous price target of $26 . Earlier the firm had a rating of “Buy ” on the company shares. Canaccord Genuity advised their investors in a research report released on Jun 1, 2016.

Many Wall Street Analysts have commented on Marketo Inc. Marketo Inc was Downgraded by JP Morgan to ” Neutral” on Jun 1, 2016. Marketo Inc was Downgraded by DA Davidson to ” Neutral” on Jun 1, 2016. Company shares were Downgraded by RBC Capital Mkts on May 31, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $30 .

On the company’s financial health, Marketo Inc reported $-0.17 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $-0.17. The company had revenue of $62.20 million for the quarter, compared to analysts expectations of $61.47 million. The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.20 EPS.

Marketo Inc opened for trading at $28.83 and hit $33.38 on the upside on Friday, eventually ending the session at $32.2, with a gain of 11.30% or 3.27 points. The heightened volatility saw the trading volume jump to 38,27,567 shares. Company has a market cap of $1,434 M.

In a different news, on May 19, 2016, Phillip M Fernandez (President, CEO & Chairman) sold 21,600 shares at $26.87 per share price. According to the SEC, on May 18, 2016, Jason L Holmes (EVP & Chief Operating Officer) sold 2,500 shares at $27.26 per share price. On May 12, 2016, Steven M Winter (EVP Worldwide Field Operations) sold 5,312 shares at $26.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Marketo Inc. (Marketo) is engaged in providing cloud-based marketing solutions platform for the organizations ranging from small and medium businesses to largest enterprises to engage in modern relationship marketing. The Company’s platform provides the execution management and analytical measurement of online social mobile and offline marketing activities and customer interactions in multi-channel business environment. The Company’s platform offers an integrated suite of applications which include marketing automation sales insight revenue analytics marketing calendar real-time personalization and social marketing. Its applications are complemented by the Marketo Marketing Nation a network of more than 400 third-party solutions through the Company’s LaunchPoint ecosystem. The Company has approximately 3794 customers across a range of industries including business services consumer financial services healthcare manufacturing media technology and telecommunications.

Marketo Inc

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