Canaccord downgraded Cvent to Hold from Buy with a price target of $8.50, up from $8, after the company agreed to be acquired by an affiliate of private equity funds managed by Blackstone (BX) in a transaction valued at an enterprise value of approximately $4.6B, or $8.50 per share in cash.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CVT:
- Cvent Gains on $4.6B Acquisition by Blackstone
- Cvent will not not provide guidance nor conference call due to Blackstone deal
- Cvent reports Q4 EPS (4c), consensus 6c
- Cvent to be acquired by Blackstone for $8.50 per share in cash
- Cvent rejects $8 per share takeover offer from Blackstone, Reuters reports