Cvent Inc. (NYSE:CVT) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.00.
Separately, Zacks Investment Research raised Cvent from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Monday, July 11th.
Institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in Cvent during the second quarter valued at about $6,566,000. Public Employees Retirement System of Ohio acquired a new stake in Cvent during the second quarter valued at about $246,000. Schwab Charles Investment Management Inc. increased its stake in Cvent by 35.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,167 shares of the company’s stock valued at $3,007,000 after buying an additional 22,056 shares in the last quarter. Omni Partners LLP acquired a new stake in Cvent during the second quarter valued at about $7,144,000. Finally, GLG Partners LP acquired a new stake in Cvent during the second quarter valued at about $561,000. 61.66% of the stock is currently owned by hedge funds and other institutional investors.
Cvent (NYSE:CVT) traded down 0.47% during midday trading on Monday, hitting $31.74. The stock had a trading volume of 59,644 shares. Cvent has a 12-month low of $17.85 and a 12-month high of $37.25. The company has a 50-day moving average price of $32.03 and a 200-day moving average price of $32.29. The company’s market cap is $1.34 billion.
Cvent (NYSE:CVT) last released its quarterly earnings data on Friday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. The business had revenue of $59.60 million for the quarter, compared to analyst estimates of $47.32 million. Cvent had a negative return on equity of 1.80% and a negative net margin of 8.36%. Equities analysts anticipate that Cvent will post $0.09 EPS for the current year.
Cvent Company Profile
Cvent, Inc is a cloud-based enterprise event management company. The Company provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, through its Event Cloud, and hoteliers and venues, through its Hospitality Cloud. The Company offers planners a platform that addresses the entire lifecycle of events and meetings, including budgeting, planning, venue sourcing, marketing, management and measurement of meetings.
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