Why Shares of SVMK Surged Today

Shares of SVMK (NASDAQ: SVMK), the parent company of SurveyMonkey, jumped on Friday following a fourth-quarter report that beat analyst expectations. Revenue was up by a double-digit percentage, and the company's guidance called for similar growth in 2020. The stock was up about 18.9% at 12:20 p.m. EST today.

Fourth-quarter revenue was $84.3 million, up 24% year over year and about $500,000 higher than the average analyst estimate. Enterprise sales accounted for 25% of total revenue, up from 13% in the prior-year period. The company had 6,578 enterprise customers at the end of the quarter, up 84% year over year, and 720,921 paying users, up 11%.

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Source Fool.com