Sunday, June 26, 2022

The Attractiveness of Investing In ServiceSource International Inc. (SREV) is Growing

In a filing, ServiceSource International Inc. revealed its 10% Owner Edenbrook Capital, LLC acquired Company’s shares for reported $53598.0 on Apr 26. In the deal valued at $1.10 per share,48,531 shares were bought. As a result of this transaction, Edenbrook Capital, LLC now holds 21,027,518 shares worth roughly $ 29.86 million.

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Then, Edenbrook Capital, LLC bought 37,587 shares, generating $41,703 in total proceeds. Upon buying the shares at $1.11, the 10% Owner now owns 20,978,987 shares.

Before that, Edenbrook Capital, LLC bought 25,000 shares. ServiceSource International Inc. shares valued at $28,515 were divested by the 10% Owner at a price of $1.14 per share. As a result of the transaction, Edenbrook Capital, LLC now holds 20,941,400 shares, worth roughly $29.74 million.

Taking this into account, B. Riley FBR downgraded its ServiceSource International Inc. [SREV] rating to a Neutral from a a Buy in a research note published on Tuesday, February 21, 2019; the price target was decreased to $1.25 from $1.75. PT values the company’s stock at a premium of -13.6 to its Tuesday closing price. A number of analysts have revised their coverage, including B. Riley FBR’s analysts, who remained covering the stock and in early November has reiterated a ‘”a Buy”‘ rating for it. JMP Securities also remained covering SREV and has decreased its forecast on October 19, 2018 with a “Mkt perform” recommendation from previously “Mkt outperform” rating. B. Riley FBR Inc. started covering the stock on March 27, 2018. It rated SREV as “a Buy”.

Price Performance Review of SREV

On Tuesday, ServiceSource International Inc. [NASDAQ:SREV] saw its stock fall -3.40% to $1.42. On the same session, the stock had its day’s lowest price of $1.41, but rose to a high of $1.48. Over the last five days, the stock has lost -2.07%. ServiceSource International Inc. shares have risen nearly 43.42% since the year began. Nevertheless, the stocks have risen 22.41% over the past one year. While a 52-week high of $1.63 was reached on 06/06/22, a 52-week low of $0.93 was recorded on 01/24/22. SMA at 50 days reached $1.3211, while 200 days put it at $1.2289. A total of 3.09 million shares were traded, compared to the trading of 0.66 million shares in the previous session.

Levels Of Support And Resistance For SREV Stock

The 24-hour chart illustrates a support level at 1.3933, which if violated will result in even more drops to 1.3667. On the upside, there is a resistance level at 1.4633. A further resistance level may holdings at 1.5067. The Relative Strength Index (RSI) on the 14-day chart is 49.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0186, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.50%. Stochastics %K at 53.06% indicates the stock is a holding.

ServiceSource International Inc. [SREV] – Who Are The Largest Shareholders?

In filings from Edenbrook Capital LLC, it is revealed that the company now owns 21,027,518 shares, or roughly 21.04% of the outstanding SREV shares. In other words, the investor’s shares have risen by 146,909 from its previous 13-F filing of 20880609.0. Additionally, Archon Capital Management LLC decreased 0.00% of its stake after which the total value it holdings stand at $14,391,998, while PRIMECAP Management Co. reduced -0.53% of its stake to hold $11.98 million in the firm. Over the last quarter, Lynrock Lake LP purchased 47,565 shares of ServiceSource International Inc., while Koller Capital LLC bought 963,771 shares. At present, The Vanguard Group, Inc. is holding 4,391,417 shares valued at $6.41 million. Renaissance Technologies LLC owned 3,649,461 shares of the company at the time of its most recent 13F filing, worth $5.33 million.

According to FactSet, ServiceSource International Inc.’s share price will average $2.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.05 percent from its previous closing price of $1.47. Analysts expect ServiceSource International Inc. stock to reach the higher price of $2.00, while the lowest price estimate is $2.00. However, 1 analysts have rated SREV stock as a Buy in their predictions for 2022.

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