Momentive Global Inc. (MNTV) stock prices were up by 1.47% as of the market closing on October 28th, 2021. This brought the price per share up to USD$24.92. Subsequent premarket fluctuations saw the stock dip by 11.14%, bringing it down to USD$22.15.
Promising Financial Reports
October 28th, 2021 saw MNTV stock report total revenues in the amount of USD$114.8 million for the third quarter of fiscal 2021. This represents a 20% year-over-year increase from the numbers reported in the third quarter of fiscal 2020. The 2021 quarter’s revenue came in higher than the company’s previously issued guidance range of USD$112.5 million to USD$114.5 million. MNTV stock reported a solid liquidity position as of September 30th, 2021, with cash and cash equivalents in the amount of USD$300.7 million. Total debt as of September 30th, 2021 was reported in the amount of USD$212.2 million for net cash of USD$88.5 million.
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MNTV Stock Acquired by Zendesk
Concurrently, MNTV stock reported having entered into a definitive agreement which will see it being acquired by Zendesk. In light of the pending acquisition by Zendesk, the company has canceled its November 9th, 2021 conference call and webcast. The conference call and webcast aimed to discuss the promising financial results of the third quarter of fiscal 2021. Furthermore, the company will not be providing financial guidance for the fourth quarter of fiscal 2021 and is suspending its financial guidance for the full year as well.
About MNTV Stock
MNTV stock is an industry leader in agile experience management, providing powerful and tailor-made solutions that integrate the best parts of humanity and technology to redefine artificial intelligence. Its Momentive products enable decision makers spanning 345,000 organizations around the world to shape exceptional experiences. These products include GetFeedback, SurveyMonkey, and Momentive brand and market insights solutions.
Building on Success
The company boasts 20 million active users who make use of Momentive to drive market and brand insights, employee experience, customer experience, and product experience. MNTV stock ultimately hopes to realize its vision of raising the bar for human experiences by amplifying individual voices.
Future Outlook for MNTV Stock
MNTV stock is poised to capitalize on the expansive scope of opportunities afforded to it in light of its recent financial success and pending acquisition by Zendesk. The company is keen to maintain its trajectory of success in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.
