What Next for Cvent Inc Stock After Today’s Bearish Options Activity?

 What Next for Cvent Inc Stock After Today's Bearish Options Activity?

In today’s session Cvent Inc (CVT) recorded an unusually high (10,251) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious CVT decrease. With 10,251 contracts traded and 11014 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: CVT170120P00030000 closed last at: $1.8 or 23.4% down. About 127,676 shares traded hands. Cvent Inc (NYSE:CVT) has risen 47.68% since March 14, 2016 and is uptrending. It has outperformed by 42.06% the S&P500.

Analysts await Cvent Inc (NYSE:CVT) to report earnings on November, 2. They expect $-0.16 EPS, down 277.78% or $0.25 from last year’s $0.09 per share. After $-0.06 actual EPS reported by Cvent Inc for the previous quarter, Wall Street now forecasts 166.67% negative EPS growth.

Cvent Inc (NYSE:CVT) Ratings Coverage

Out of 6 analysts covering Cvent (NYSE:CVT), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $43 is the highest target while $29 is the lowest. The $35 average target is 13.93% above today’s ($30.72) stock price. Cvent has been the topic of 7 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was downgraded by JMP Securities on Monday, May 9 to “Market Perform”. Zacks upgraded Cvent Inc (NYSE:CVT) on Friday, August 14 to “Hold” rating. The stock of Cvent Inc (NYSE:CVT) earned “Market Perform” rating by William Blair on Tuesday, April 19. Morgan Stanley downgraded it to “Underweight” rating and $29 target price in Thursday, September 10 report. The stock of Cvent Inc (NYSE:CVT) has “Buy” rating given on Tuesday, February 23 by Needham. Stifel Nicolaus downgraded the stock to “Hold” rating in Monday, April 18 report.

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.”

Insitutional Activity: The institutional sentiment increased to 1.65 in 2016 Q2. Its up 0.25, from 1.4 in 2016Q1. The ratio is positive, as 33 funds sold all Cvent Inc shares owned while 22 reduced positions. 52 funds bought stakes while 39 increased positions. They now own 28.87 million shares or 1.02% less from 29.17 million shares in 2016Q1.
Brown Advisory holds 7,980 shares or 0% of its portfolio. Huntington Bancorp reported 2,115 shares or 0% of all its holdings. Dupont Mgmt owns 17,100 shares or 0.01% of their US portfolio. Wells Fargo And Co Mn holds 10,204 shares or 0% of its portfolio. Retail Bank Of America De reported 137,972 shares or 0% of all its holdings. Fdx Advsrs Inc reported 5,932 shares or 0.01% of all its holdings. Gabelli Secs holds 1.69% of its portfolio in Cvent Inc (NYSE:CVT) for 363,320 shares. Millennium Management Llc holds 0% or 11,118 shares in its portfolio. Moreover, Prudential has 0% invested in Cvent Inc (NYSE:CVT) for 6,300 shares. State Bank Of Montreal Can holds 0% of its portfolio in Cvent Inc (NYSE:CVT) for 3,496 shares. California Pub Employees Retirement Sys holds 26,000 shares or 0% of its portfolio. The Florida-based State Board Of Administration Of Florida Retirement System has invested 0% in Cvent Inc (NYSE:CVT). Swiss National Bank has invested 0% of its portfolio in Cvent Inc (NYSE:CVT). Deutsche Fincl Bank Ag last reported 574,105 shares in the company. Rhumbline Advisers, a Massachusetts-based fund reported 29,077 shares.

Cvent, Inc. is a cloud-based enterprise event management company. The company has a market cap of $1.29 billion. The Firm provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, through its Event Cloud, and hoteliers and venues, through its Hospitality Cloud. It currently has negative earnings. The Firm offers planners a platform that addresses the entire lifecycle of events and meetings, including budgeting, planning, venue sourcing, marketing, management and measurement of meetings.

CVT Company Profile

Cvent, Inc. (Cvent), incorporated on August 20, 1999, is a cloud enterprise event management company. The Firm provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, through its Event Cloud, and hoteliers and venues, through its Hospitality Cloud. The Company’s integrated, cloud solution addresses the entire event lifecycle by allowing event and meeting planners to automate and streamline the process of planning, organizing and executing events for organizations of all sizes and industries.

More important recent Cvent Inc (NYSE:CVT) news were published by: Fool.com which released: “Why Cvent Inc. Stock Skyrocketed 65.5% Today” on April 18, 2016, also Seekingalpha.com published article titled: “A Life-Changing Event Is Happening To Cvent Inc.”, Reuters.com published: “BRIEF-Cvent Inc says stockholders approve merger with Papay Holdco Llc – s…” on July 13, 2016. More interesting news about Cvent Inc (NYSE:CVT) was released by: Streetinsider.com and their article: “Moody’s Assigns ‘B3’ Corp. Family Rating to Cvent, Inc. (CVT); Outlook is Stable” with publication date: June 02, 2016.

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