CVENT HOLDINGS Q3 Earnings Beat Expectations On Higher Revenue

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CVENT HOLDING ($NASDAQ:CVT)S is a publicly traded company that provides cloud-based software solutions for event and meeting professionals. The company reported its earnings for the third quarter of the year, which showed revenue of $161.3 million. This was higher than the street estimate of $158.4 million. The company attributed the higher-than-expected revenue to strong demand for its products and services.

Earnings

This represents an 11.2% increase in total revenue compared to the same period last year. CVENT HOLDINGS has seen strong growth in recent years, with total revenue increasing from $498.7 million to $577.0 million over the last three years. This latest quarter’s results continue to show the company’s strong financial performance, with earnings beating expectations on higher revenue. CVENT HOLDINGS is well-positioned for continued success in the future.

Share Price

CVENT Holdings, a provider of live event management software, on Thursday beat expectations for its third-quarter earnings. The company’s stock opened at $5.30 on Thursday and closed at $5.10, down 4.7% from its previous closing price of $5.40.

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on CVENT HOLDING are made simple by VI app. According to VI Risk Rating, CVENT HOLDING is a medium risk investment in terms of financial and business aspects. VI App has detected 1 risk warnings in balance sheet. Register on vi.app to check it out.

VI Peers

The company was founded in 1999 and is headquartered in Tysons Corner, Virginia. Cvent has over 3,000 employees and serves over 250,000 customers in 100 countries. The company went public in 2013 and is listed on the New York Stock Exchange under the ticker symbol CVT. Cvent’s main competitors are Salesforce, Cistera Networks, and Tintri.

– Salesforce Inc ($NYSE:CRM)

Salesforce is a cloud-based software company that provides customer relationship management (CRM) software to businesses of all sizes. Its products allow businesses to manage their customer relationships and sales processes in a single system. The company’s market cap is $160.17 billion and its ROE is 0.08%.

– Cistera Networks Inc ($OTCPK:CNWT)

Cistera Networks Inc is a company that provides software-defined networking solutions. The company has a market capitalization of 1.12 million as of 2022 and a return on equity of 3.67%. The company’s products are used by enterprises and service providers to simplify and automate the delivery of network services.

– Tintri Inc ($OTCPK:TNTRQ)

Tintri Inc is a company that provides cloud storage and data management solutions. It has a market cap of 675.02k and a ROE of 116.12%. The company’s products and services are used by organizations to store, manage, protect and analyze their data.

Summary

Investing in CVENT HOLDING can be a smart move for investors. The company has a strong track record of delivering growth and shareholder value. Its products and services are in high demand, and its business is diversified across multiple industries. CVENT HOLDING also has a strong balance sheet, with plenty of cash on hand to fund future growth.

Of course, no investment is without risk, and CVENT HOLDING is no exception. The company faces stiff competition in many of its markets, and its stock is not cheap. But for investors with a long-term horizon and a willingness to tolerate some volatility, CVENT HOLDING could be a great addition to their portfolio.