Stocks of Cvent Holding Corp. (NASDAQ:CVT) traded higher last session on Wall Street, down -1.08% to $7.30.
CVT stock price is now 9.85% away from the 50-day moving average and 26.19% away from the 200-day moving average. The market capitalization of the company currently stands at $3.51B.
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With the price target of $8, Credit Suisse recently initiated with Outperform rating for Cvent Holding Corp. (NASDAQ: CVT). On June 17, 2022, Morgan Stanley recently initiated its ‘Equal-Weight’ rating on the stock quoting a target price of $5.50, while ‘Colliers Securities’ rates the stock as ‘Buy’.
In other news, NEWMAN WILLIAM J III, insider sold 108 shares of the company’s stock on Feb 14. The stock was sold for $801 at an average price of $7.42. Upon completion of the transaction, the insider now directly owns 296,063 shares in the company, valued at $2.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 14, Director FRANKOLA JIM bought 9,800 shares of the business’s stock. A total of $45,570 was incurred on buying the stock at an average price of $4.65. This leaves the insider owning 77,800 shares of the company worth $0.57 million. Insiders disposed of 2,143 shares of company stock worth roughly $15643.9 over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVT stock. A new stake in Cvent Holding Corp. shares was purchased by KINETIC PARTNERS MANAGEMENT, LP during the first quarter worth $20,430,000. SUMMIT CREEK ADVISORS LLC invested $9,376,000 in shares of CVT during the first quarter. In the first quarter, ORLAND PROPERTIES LTD acquired a new stake in Cvent Holding Corp. valued at approximately $3,559,000. RUSSELL INVESTMENTS GROUP, LTD. acquired a new stake in CVT for approximately $964,000. PINZ CAPITAL MANAGEMENT, LP purchased a new stake in CVT valued at around $625,000 in the second quarter. In total, there are 113 active investors with 94.70% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $7.41 for Cvent Holding Corp. (NASDAQ: CVT). During the past 12 months, Cvent Holding Corp. has had a low of $3.30 and a high of $9.45. As of last week, the company has a debt-to-equity ratio of 0.10, a current ratio of 0.60, and a quick ratio of 0.60. The fifty day moving average price for CVT is $6.65 and a two-hundred day moving average price translates $5.79 for the stock.
The latest earnings results from Cvent Holding Corp. (NASDAQ: CVT) was released for Sep, 2022. According to the Software – Application Company, earnings per share came in at $0.06, beating analysts’ expectations of $0.04 by 0.02. This compares to -$0.06 EPS in the same period last year. The net profit margin was -17.00% and return on equity was -6.40% for CVT. The company reported revenue of $161.32 million for the quarter, compared to $134.06 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.34 percent. For the current quarter, analysts expect CVT to generate $169.67M in revenue.
Cvent Holding Corp.(CVT) Company Profile
Cvent Holding Corp. provides a cloud-based enterprise event marketing, management, and hospitality platform for meetings and events value ecosystem in North America and internationally. The company’s Event Cloud solutions consists of event marketing and management services that enables marketers and planners to maximize engagement and ROI from their virtual in-person or hybrid events. Its Hospitality Cloud solutions provides hotels, venues, and destinations with online marketing solutions for marketing their events business to planners; and software solutions that automate the events sales cycle and enhancing collaboration with planners to design and manage events. In addition, company provides hospitality cloud online marketing solutions, which enables suppliers to advertise and market on venue sourcing networks, including CSN, Cvent SpeedRFP, and Cvent Wedding Spot; hospitality cloud software solutions, such as hotels, destinations, and venues software solutions to automate and enhance how they sell and execute events; and network effect. The company sells its platform primarily through a direct inside sales team. Cvent Holding Corp. was founded in 1999 and is headquartered in Tysons, Virginia.
