Northland Securities Downgrades Servicesource International Inc to Market Perform

Brokerage firm Northland Securities Downgrades its rating on Servicesource International Inc(SREV). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Northland Securities was issued on Feb 22, 2017 in a research report to their Investors and Clients.

Servicesource International Inc (SREV) shares turned negative on Wednesdays trading session with the shares closing down -1.87 points or -30.91% at a volume of 19,03,780. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.55. The peak price level was also seen at $4.55 while the days lowest was $4.02. Finally the shares closed at $4.18. The 52-week high of the shares is $6.2506 while the 52-week low is $3.52. According to the latest information available, the market cap of the company is $363 M.

Servicesource International Inc(SREV) last announced its earnings results on Nov 9, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $62.51M. Analysts had an estimated revenue of $61.14M. Earnings per share were $0.02. The reported EPS was above estimates by $0.03 or 300.00%. Analysts had estimated an EPS of $-0.01.

Several Insider Transactions has been reported to the SEC. On Dec 2, 2016, Thomas F Mendoza (director) sold 20,000 shares at $5.90 per share price.Also, On Jun 1, 2016, Richard Campione (director) sold 18,625 shares at $3.75 per share price.On Nov 19, 2015, Christopher Carrington (CEO) purchased 19,980 shares at $4.97 per share price, according to the Form-4 filing with the securities and exchange commission.

ServiceSource International Inc. (ServiceSource) is a recurring revenue growth solutions provider. The Company addresses elements of customer success recurring revenue growth and renewal processes which include on-boarding adoption quoting up-sell cross sell retention and renewals as well as recurring revenue business intelligence for the Revenue Lifecycle. The Company provides managed services and cloud software processes. By integrating managed services cloud software and data the Company provides end-to-end management and optimization of the subscription and service-contract renewal process. The Company’s cloud offerings include: ServiceSource Revenue Analytics Renew OnDemand and the ServiceSource Customer Success application which automate and provide data-driven insights into these manual business processes. The Company operates in two segments: Managed Services and Cloud and Business Intelligence.

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