Morgan Stanley Sees Mixed Factors For Cvent Following Meetings

In a report published Friday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “Cvent's Corporate Meetings Summit and associated Analyst Day highlighted strong momentum in the company's business. "Attendance was up more than 100% from last year's event, with strong representation from Global 2,000 firms in addition to Cvent's historical SMB base, while conversations were generally positive on the company's product roadmap, particularly around mobile, as well as growing acceptance of the strategic importance of events management. "We came away incrementally more positive on the potential for enterprise adoption and mobile uptake, although we also note that the slower pace of moving manual processes online likely keeps growth closer to 25-30% despite strong industry trends.” Cvent closed on Thursday at $28.99.