MNTV - Momentive Global most likely target for a private equity firm analyst says

SurveyMonkey parent Momentive Global ( NASDAQ: MNTV ) is more likely to be a takeover target for a private equity firm than a strategic acquirer, according to a Stifel analyst.

Momentive ( MNTV ) shares soared 18% on Wednesday on a Bloomberg report that the company is weighing a sale after receiving takeover interest.

A possible sale comes after Zendesk ( ZEN ) agreed to buy Momentive ( MNTV ) last year for $4.2 billion, but axed the deal in February after Zendesk shareholders came out against it. Momentive shares had plunged 60% before today since the Zendesk deal was terminated in late February.

Bloomberg in November reported that private equity firm Permira had made all-cash bid for Momentive ( MNTV ) before it agreed to its original deal with Zendesk.

"We note that multiple private equity firms were circling the company during its last deal process, and we believe that is the more likely route the company would take in a sale versus a strategic deal," Stifel analyst J. Parker Lane wrote in a note on Wednesday.

Stifel's Lane, who has a hold rating on Momentive ( MNTV ) raised his price target on MNTV to $8 from $7.

Momentive ( MNTV ) disclosed in a December filing that it had interest from two other parties before it agreed to the ZenDesk sale.

Momentive ( MNTV ) is set to report Q3 results on Nov. 3.

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