Cvent Holding (NasdaqGM:CVT) - Share price, News & Analysis

Q: What is the Fair Price of CVT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CVT ($5.01) is trading above our estimate of [[fair value]] ($1.96)

CVT fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	1/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

CVT Stock Overview

Cvent Holding Corp. provides a cloud-based enterprise event marketing, management, and hospitality platform for meetings and events value ecosystem in North America and internationally.

Rewards

Revenue is forecast to grow 19.35% per year

Risk Analysis

Shareholders have been substantially diluted in the past year

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

Cvent Holding Competitors

Q2 Holdings

NYSE:QTWO

US$2.3b

PagerDuty

NYSE:PD

US$2.2b

Sprinklr

NYSE:CXM

US$2.6b

EngageSmart

NYSE:ESMT

US$2.7b

Price History & Performance

Summary of all time highs, changes and price drops for Cvent Holding
Historical stock prices
Current Share Price	US$5.01
52 Week High	US$10.96
52 Week Low	US$3.30
Beta	0
1 Month Change	1.21%
3 Month Change	-29.04%
1 Year Change	-50.49%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-54.12%

Shareholder Returns

	CVT	US Software	US Market
7D	5.5%	-3.1%	-2.2%
1Y	-50.5%	-23.6%	-19.1%

Return vs Industry: CVT underperformed the US Software industry which returned -23.6% over the past year.

Return vs Market: CVT underperformed the US Market which returned -21.2% over the past year.

Price Volatility

Is CVT's price volatile compared to industry and market?
CVT volatility
CVT Average Weekly Movement	13.3%
Software Industry Average Movement	11.0%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.9%
10% least volatile stocks in US Market	3.3%

Stable Share Price: CVT is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.

Volatility Over Time: CVT's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
1999	4,300	Reggie Aggarwal	https://www.cvent.com

Cvent Holding Corp. provides a cloud-based enterprise event marketing, management, and hospitality platform for meetings and events value ecosystem in North America and internationally. The company’s Event Cloud solutions consists of event marketing and management services that enables marketers and planners to maximize engagement and ROI from their virtual in-person or hybrid events. Its Hospitality Cloud solutions provides hotels, venues, and destinations with online marketing solutions for marketing their events business to planners; and software solutions that automate the events sales cycle and enhancing collaboration with planners to design and manage events.

Cvent Holding Fundamentals Summary

How do Cvent Holding's earnings and revenue compare to its market cap?
CVT fundamental statistics
Market Cap	US$2.41b
Earnings (TTM)	-US$100.91m
Revenue (TTM)	US$538.88m

4.5x

P/S Ratio

-23.9x

P/E Ratio

Is CVT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CVT income statement (TTM)
Revenue	US$538.88m
Cost of Revenue	US$203.80m
Gross Profit	US$335.08m
Other Expenses	US$435.98m
Earnings	-US$100.91m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.21
Gross Margin	62.18%
Net Profit Margin	-18.73%
Debt/Equity Ratio	16.3%

How did CVT perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is CVT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CVT?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for CVT. This is calculated by dividing CVT's market cap by their current preferred multiple.
What is CVT's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$2.41b

CVT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.7x
Enterprise Value/EBITDA	-898.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does CVT's PS Ratio compare to its peers?

CVT PS Ratio vs Peers

The above table shows the PS ratio for CVT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	7x
QTWO Q2 Holdings	4.4x	16.9%	US$2.3b
PD PagerDuty	7.4x	22.2%	US$2.2b
CXM Sprinklr	5x	19.4%	US$2.6b
ESMT EngageSmart	11.3x	26.8%	US$2.7b
CVT Cvent Holding	4.5x	19.3%	US$2.4b

Forward PS

Price-To-Sales vs Peers: CVT is good value based on its Price-To-Sales Ratio (4.5x) compared to the peer average (7x).

Price to Earnings Ratio vs Industry

How does CVT's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Sales vs Industry: CVT is good value based on its Price-To-Sales Ratio (4.5x) compared to the US Software industry average (4.5x)

Price to Sales Ratio vs Fair Ratio

What is CVT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CVT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	4.5x
Fair PS Ratio	5.8x

Price-To-Sales vs Fair Ratio: CVT is good value based on its Price-To-Sales Ratio (4.5x) compared to the estimated Fair Price-To-Sales Ratio (5.8x).

Share Price vs Fair Value

What is the Fair Price of CVT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CVT ($5.01) is trading above our estimate of fair value ($1.96)

Significantly Below Fair Value: CVT is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CVT's PEG Ratio to determine if it is good value.

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Future Growth

How is Cvent Holding forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

10.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CVT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CVT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CVT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CVT's revenue (19.3% per year) is forecast to grow faster than the US market (8.2% per year).

High Growth Revenue: CVT's revenue (19.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CVT's Return on Equity is forecast to be low in 3 years time (7.5%).

Discover growth companies

Past Performance

How has Cvent Holding performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-10.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CVT is currently unprofitable.

Growing Profit Margin: CVT is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: CVT is unprofitable, and losses have increased over the past 5 years at a rate of 10.9% per year.

Accelerating Growth: Unable to compare CVT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CVT is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (26.8%).

Return on Equity

High ROE: CVT has a negative Return on Equity (-6.27%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Cvent Holding's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: CVT's short term assets ($337.9M) do not cover its short term liabilities ($417.1M).

Long Term Liabilities: CVT's short term assets ($337.9M) exceed its long term liabilities ($315.4M).

Debt to Equity History and Analysis

Debt Level: CVT's net debt to equity ratio (4.3%) is considered satisfactory.

Reducing Debt: CVT's debt to equity ratio has reduced from 37.3% to 16.3% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CVT has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CVT is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 20% per year.

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Dividend

What is Cvent Holding current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CVT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CVT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CVT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CVT's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CVT has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

16.7yrs

Average management tenure

CEO

Reggie Aggarwal (52 yo)

22.83yrs

Tenure

US$21,200,830

Compensation

Mr. Rajeev K. Aggarwal, also known as Reggie, Founded Cvent Holding Corp. (formerly known as Cvent, Inc.) in September 1999 and has been its Chief Executive Officer since September 1999 and President since...

CEO Compensation Analysis

Compensation vs Market: Reggie 's total compensation ($USD21.20M) is above average for companies of similar size in the US market ($USD6.90M).

Compensation vs Earnings: Reggie 's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: CVT's management team is seasoned and experienced (16.7 years average tenure).

Board Members

Experienced Board: CVT's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: CVT insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 1265.4%.

Data	Last Updated (UTC time)
Company Analysis	2022/07/04 00:00
End of Day Share Price	2022/07/01 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31