U.S. markets open in 2 hours 38 minutes

Today’s Research Reports on Stocks to Watch: SVMK and Sphere 3D

NEW YORK / ACCESSWIRE / November 14, 2018 / SVMK shares were breaking out in Wednesday’s session after reporting a narrower loss in the third quarter than expected. Shares of Sphere 3D Corp. were also soaring on news of completing divesture of Overland Storage.

MERInitiates Coverage on:

SVMK Inc.
https://marketedgereport.com/report/SVMK/

Sphere 3DCorp.
https://marketedgereport.com/report/ANY/

SVMK Inc. shares were up 13.11% yesterday on about 1.2 million shares traded with an additional 3.84% in gains seen in after-hours trading. The parent company of global survey software company SurveyMonkey saw its shares explode after the company reported a narrower-than-expected third-quarter loss. For the quarter, SVMK reported an adjusted net loss of 1 cent a share. Analysts had been expecting a loss of 5 cents a share. Revenue for the quarter increased 18% to $65.2 million, also better than analysts' $63 million expectations. SurveyMonkey CEO Zander Lurie said, "We are off to a great start as a public company resulting from our strong execution and focus." He added, "SurveyMonkey was built on the belief that empowering individuals across organizations to engage with their key constituents is paramount to success." Looking ahead in the quarter, the company has guided for revenue to grow between 14% and 17% year over year to be at in between $64.8 million and $66.8 million. Revenue for the year is expected to grow between 17% and 18% and be between $251.2 million and $253.2 million.

AccessMER's SVMK Inc. Research Report at:
https://marketedgereport.com/report/SVMK/

Sphere 3D Corp. shares closed up 58.18% on Wednesday with around 14.3 million shares traded. The data management solutions company saw its shares rise after announcing that it has completed the divesture of Overland Storage. Per the company's press release, Sphere 3D Corp. has "closed the previously announced transactions contemplated by that certain Share Purchase Agreement dated February 20, 2018, as amended, by and among the Company, Overland Storage, Inc., a wholly owned subsidiary of the Company and Silicon Valley Technology Partners, Inc., a corporation established by Eric Kelly, the Company’s Chief Executive Officer, who currently serves as the chief executive officer and chairman of the board of directors of such corporation." Earlier this month the company reported financial results for the third quarter ended September 30, 2018. Net revenue hit $15.19 million compared to $21.7 million in the year ago quarter. Product revenue was $13.9 million compared to $19.6 million in the quarter a year ago.

AccessMER's Sphere 3D Corp. Research Report at:
https://marketedgereport.com/report/ANY/

Our Actionable Research on SVMK Inc. (NASDAQ:SVMK) and Sphere 3D Corp. (NASDAQ:ANY) can be downloaded free of charge at MarketEdge Report.

MarketEdge Report

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

MarketEdge has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

MarketEdge Report, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@marketedgereport.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: MarketEdgeReport