This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Why Cvent (CVT) Is Down Today

NEW YORK (TheStreet) -- Cvent (CVT - Get Report) was falling 5.29% to $39.06 on Friday afternoon after the software services company announced fourth-quarter results and issued guidance that came up short of analysts' expectations.

The company reported a net loss of $0.6 million or two cents a share, down from net income of $1.5 million, or four cents a share, in the same quarter one year earlier. Adjusted net income, excluding items, was $0.3 million, or one cent a share, down year over year from $3.6 million, or 10 cents a share. Revenue spiked 30% year over year to $30.68 million from $23.61 million. Analysts polled by Thomson Reuters expected Cvent to break even per share on revenue of $30.07 million.

For the first quarter of the fiscal year 2014, Cvent expects revenue of $30.6 million to $31 million and a net loss of six cents to five cents a share. Analysts expect the company to break even per share on revenue of $30.46 million. For the full year, Cvent anticipates revenue of $137.8 million to $139.6 million and a net loss of 27 cents to 23 cents a share. Analysts expect the company to earn six cents a share on revenue of $136.82 million.

"We delivered a strong finish to 2013, highlighted by fourth quarter revenue growth of 30% compared to a year ago," said CEO Reggie Aggarwal in the company's statement. "This performance reflects our belief that the marketplace is choosing our solutions to replace manual processes at all stages of the meetings and events lifecycle, serving both meetings and events planners on one side, and hotels and venues on the other. Our continued momentum is driven by the addition of numerous, diverse, new customers to Cvent, as well as by continued strong renewals and upgrade activity with existing customers across our broad portfolio of products."

Must Read: Cvent Announces Fourth Quarter And Full Year 2013 Financial Results

CVT Chart

CVT data by YCharts

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CVT $28.95 -1.19%
AAPL $128.46 -1.50%
FB $78.97 -1.79%
GOOG $558.40 0.53%
TSLA $203.34 -1.86%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs