Why Has Goldman Sachs Given Marketo Inc (NASDAQ:MKTO) a $28.00 Price Target
Goldman Sachs analyst launched coverage with a “Neutral” rating on Marketo Inc (NASDAQ:MKTO) today and set a price target of $28.00. The firm’s shares opened today at 26.49.
From a total of 16 analysts covering Marketo Inc (NASDAQ:MKTO) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $55 while the lowest target price is $30. The mean of all analyst targets is $40.13 with a 61.08% above today’s ($26.49) stock price. Marketo Inc was the topic of 3 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Dougherty & Company initiated shares on November 6 with “Buy” rating. Susquehanna initiated MKTO stock in a recent report from August 20 with “Positive” rating.
Approximately 124,025 shares of stock traded hands. Marketo Inc (NASDAQ:MKTO) has declined 4.89% since May 8, 2015 and is downtrending. It has underperformed by 1.87% the S&P500.
The overall sentiment of institutions has decreased to 1.09 in Q2 2015. Its down 0.63, from 1.72 in 2015Q2. The ratio turned negative, as 22 institutions have sold all the shares of Marketo Inc that they owned while 42 funds have taken shares off the table. 24 funds have purchased shares for the first time while 46 added to their positions. These institutions now hold 36.71 million shares or 3.29% less than the 37.96 million shares they owned in 2015Q2.
The Fund Battery Partners Ix Llc currently is holding shares equating to 16.04% of its total portfolio in Marketo Inc representing a total of 1.52 million shares. Another fund,Westerly Capital Management Llc, is holding a total of 138,679 shares equating to 4.72% of their holdings. Additionally, Gagnon Advisors Llc has a 195,357 share stake in Marketo Inc which represents 4.52% of their total portfolio. The Fund, Gagnon Securities Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.19% of their total portfolio. Finally Millrace Asset Group Inc., a fund which is based in the state of Pennsylvania reported a total holdings of 75,432 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 2, 2015, shareholders of Marketo Inc have witnessed 0 insider buys, and a total of 25 selling transactions equating to a net activity of approximately $21.12 million . Holmes Jason L sold 7,000 shares worth approximately $227,562. Ball Frederick sold 15,000 shares worth approximately $485,490. Fernandez Phillip M sold 12,000 shares worth approximately $394,969. Dholakia Sanjay sold 4,812 shares worth approximately $135,778. The company insider Agrawal Neeraj sold 150,000 shares worth $4.17 million.
Marketo, Inc. is engaged in providing cloud marketing solutions platform for the organizations ranging from small and medium businesses to largest enterprises, to engage in modern relationship marketing. The company has a market cap of $1.18 billion. The Company’s platform provides the execution, management and analytical measurement of online, social, mobile and offline marketing activities and customer interactions in multi-channel business environment. It currently has negative earnings. The Company’s platform offers an integrated suite of applications, which include marketing automation, sales insight, revenue analytics, marketing calendar, real-time personalization and social marketing.
According to Zacks Investment Research, “Marketo, Inc. provides digital marketing software and solutions. Its cloud-based software platform helps companies engage their customers using marketing automation tools. The Company’s software platform enables the execution, management, and analytical measurement of online, social, and offline marketing activities and customer interactions. Marketo’s platform includes marketing automation, social marketing, sales insight and revenue analytics. Its customer base includes customers across a range of industries, including business services, consumer, financial services, healthcare, manufacturing, media, technology and telecommunications. Marketo, Inc. is headquartered in San Mateo, California.” Get a free copy of the Zacks research report on Marketo Inc (MKTO).