ServiceSource (SREV) Expected to Announce Earnings of -$0.01 Per Share

Analysts predict that ServiceSource (NASDAQ:SREV) will report ($0.01) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for ServiceSource’s earnings. ServiceSource reported earnings of ($0.02) per share in the same quarter last year, which suggests a positive year over year growth rate of 50%. The firm is expected to issue its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that ServiceSource will report full-year earnings of $0.10 per share for the current year. For the next fiscal year, analysts expect that the firm will report earnings of $0.16 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for ServiceSource.

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ServiceSource (NASDAQ:SREV) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $66.00 million during the quarter, compared to the consensus estimate of $62.49 million. ServiceSource had a positive return on equity of 4.46% and a negative net margin of 12.48%. ServiceSource’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share.

A number of research analysts recently commented on the company. BidaskClub downgraded ServiceSource from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised ServiceSource from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine downgraded ServiceSource from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, B. Riley assumed coverage on ServiceSource in a research note on Tuesday, March 27th. They issued a “buy” rating and a $5.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.75.

SREV stock opened at $3.81 on Friday. The stock has a market capitalization of $344.63, a P/E ratio of 47.63 and a beta of 1.11. ServiceSource has a 52 week low of $2.61 and a 52 week high of $4.17.

A number of hedge funds and other institutional investors have recently modified their holdings of SREV. Emancipation Management LLC acquired a new position in ServiceSource during the fourth quarter worth about $1,290,000. Lyon Street Capital LLC raised its stake in ServiceSource by 552.6% during the third quarter. Lyon Street Capital LLC now owns 469,622 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 397,660 shares in the last quarter. OxFORD Asset Management LLP raised its stake in ServiceSource by 465.6% during the third quarter. OxFORD Asset Management LLP now owns 230,097 shares of the technology company’s stock worth $801,000 after acquiring an additional 189,413 shares in the last quarter. State Street Corp raised its stake in ServiceSource by 13.0% during the second quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock worth $4,406,000 after acquiring an additional 130,675 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in ServiceSource by 2.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,282,500 shares of the technology company’s stock worth $7,053,000 after acquiring an additional 65,354 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

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About ServiceSource

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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