Stock Analysis:Cvent Inc (NYSE:CVT) Stock Target Increased
In analysts report sent to clients and investors by Pacific Crest on Tuesday morning, Cvent Inc (NYSE:CVT) had its Estimated Target Price increased to $43.00. The firm at present has a solid Overweight rating on shares.
From a total of 5 analysts covering Cvent (NYSE:CVT) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 0 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $43 while the lowest target price is $29. The mean of all analyst targets is $38.2 with a 0.00% above today’s ($36.67) stock price. Cvent was the topic of 3 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley downgraded shares on September 10 to “Underweight” rating.
The stock decreased 0.57% or $0.21 on December 8, striking $36.67. Approximately shares of stock traded hands. Cvent Inc (NYSE:CVT) has risen 33.88% since May 6, 2015 and is uptrending. It has outperformed by 34.68% the S&P500.
The overall sentiment of institutions has decreased to 1.71 in Q2 2015. Its down 0.44, from 2.15 in 2015Q2. The ratio dropped, as 12 institutions have sold all the shares of Cvent Inc that they owned while 30 funds have taken shares off the table. 24 funds have purchased shares for the first time while 48 added to their positions. These institutions now hold 34.99 million shares or 18.60% more than the 29.50 million shares they owned in 2015Q2.
The Fund Insight Holdings Group Llc currently is holding shares equating to 43.78% of its total portfolio in Cvent Inc representing a total of 2.05 million shares. Another fund,Alpinvest Partners B.V., is holding a total of 35,325 shares equating to 2.34% of their holdings. Additionally, Apex Capital Llc has a 653,400 share stake in Cvent Inc which represents 2.09% of their total portfolio. The Fund, Riverbridge Partners Llc, based out of Minnesota, has also built up a stake in the stock, which represents a total of 1.52% of their total portfolio. Finally Pier Capital Llc, a fund which is based in the state of Connecticut reported a total holdings of 247,449 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 16, 2015, shareholders of Cvent Inc have witnessed 0 buys, and a total of 18 insider sales equating to a net activity of approximately $49.02 million . Sye Dwayne J. sold 5,000 shares worth approximately $158,863. Quattrone David C. sold 8,000 shares worth approximately $260,012. Ghoorah Charles V. sold 6,000 shares worth approximately $203,155. Ludwig Brian sold 5,250 shares worth approximately $178,500. The company insider Lieberman Jeffrey sold 825,595 shares worth $26.00M.
Cvent, Inc. is a cloud-based enterprise event management platform. The company has a market cap of $1.55 billion. The Firm provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, and hotels and venues. It currently has negative earnings. The Company’s integrated, cloud solution is used in the entire event lifecycle by allowing event and meeting planners to organize, market and manage their meetings, conferences, tradeshows and other events.
According to Zacks Investment Research, “Cvent, Inc. operates as a cloud-based enterprise event management platform. The company provides event management software, strategic meetings management software, mobile event apps, pre and post event Web surveys, ticketing software, and Cvent supplier network solutions for event and meeting planners. It operates primarily in the United States. Cvent, Inc. is headquartered in McLean, Virginia.” Get a free copy of the Zacks research report on Cvent Inc (CVT).