Cvent Holding (CVT) Receives a Buy from Needham

Needham analyst Scott Berg maintained a Buy rating on Cvent Holding (CVTResearch Report) today and set a price target of $11.00. The company’s shares closed last Tuesday at $6.16.

According to, Berg is a 4-star analyst with an average return of 8.6% and a 43.9% success rate. Berg covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Ceridian HCM Holding, and Tyler Technologies.

Currently, the analyst consensus on Cvent Holding is a Strong Buy with an average price target of $10.50, representing an 86.2% upside. In a report issued on May 10, Canaccord Genuity also maintained a Buy rating on the stock with a $8.00 price target.

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Based on Cvent Holding’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $145 million and GAAP net loss of $21.54 million. In comparison, last year the company earned revenue of $117 million and had a GAAP net loss of $16.56 million.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVT in relation to earlier this year.

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