Here's Why Momentive Shares Are Trading Higher Today

Momentive Global Inc MNTV reported fourth-quarter FY21 revenue growth of 16% year-on-year to $117.3 million, missing the consensus of $120.9 million.
Enterprise sales revenue was $40.0 million, an increase of 34% Y/Y. Self-serve revenue was $77.4 million, an increase of 9% Y/Y.
Paying users totaled 888,700, an increase of 8% Y/Y. The average revenue per user was $526, up 6% Y/Y.
Non-GAAP EPS loss of $(0.01) missed the consensus of $0.05. The non-GAAP gross margin expanded 200 bps to 84%.
Momentive held $305.5 million in cash and equivalents. Net cash used in operating activities was $2.5 million.
Zendesk Inc ZEN, which looks to acquire Momentive, refused a takeover offer from a consortium of private equity firms.
Related Content: Zendesk Agrees To Acquire Momentive Global At 14% Premium
Meanwhile, there were reports that proxy advisory firms ISS and Glass Lewis recommended Zendesk holders vote against the Momentive deal.
Analyst Rating: Credit Suisse analyst Stephen Ju maintained Momentive Global with a Neutral rating and lowered the price target from $28 to $23 (36% upside).
Price Action: MNTV shares traded higher by 4.62% at $16.97 on the last check Friday.