Analyst Explains Why They Upgraded Their Rating on SVMK (SVMK)

Wells Fargo analyst Brian Fitzgerald upgraded SVMK (SVMKResearch Report) to Buy today and set a price target of $25.00. The company’s shares closed last Friday at $19.17.

According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 29.2% and a 77.5% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as UBISOFT Entertainment, IAC/InterActiveCorp, and LiveRamp Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SVMK with a $22.50 average price target, implying a 18.7% upside from current levels. In a report issued on May 14, Needham also initiated coverage with a Buy rating on the stock with a $24.00 price target.

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The company has a one-year high of $22.27 and a one-year low of $9.35. Currently, SVMK has an average volume of 1.4M.

Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SVMK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SVMK, Inc. engages in the provision of survey software products. Its People Powered Data platform enables organizations of any size to have conversations at scale to deliver customer, employee, and market insights. The company was founded by Ryan Finley in 1999 and is headquartered in San Mateo, CA.