Cvent Holding Corp. (CVT) delivered earnings and revenue surprises of -128.57% and 0.78%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. Blackstone's offer price of $8.50 per share, gives Cvent an equity value of $4.15 billion and represents a premium of about 29% from Jan. 30, a day before media reports of a potential deal surfaced. Tysons, Virginia-based Cvent's shares, which fell about 34% last year, rose about 12% to $8.29 on Tuesday.
TYSONS, Va., March 14, 2023--Cvent (Nasdaq: CVT), today announced financial results for the fourth quarter and full fiscal year ended December 31, 2022.