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What's happening?
Shares of Cvent (NYSE:CVT) have gained 12% today after the company reported strong earnings  for its third quarter, provided good guidance for its upcoming fourth quarter, and also announced its acquisition  of Decision Street, which provides sales-intelligence software to the hotel industry after Thursday's closing bell.

Why it's happening
Cvent's third quarter revenue of $37.4 million topped Wall Street's $36.4 million consensus, and its $0.08 in adjusted earnings per share blew past the consensus for breakeven ($0.00 per share) on the bottom line. Looking ahead, Cvent now expects to earn $38.6 million to $39 million in revenue for the fourth quarter, ahead of the $38.5 million consensus, and its EPS guidance range of $0.01 to $0.02 is significantly better than the loss of $0.06 analysts had expected. Full-year EPS is now expected to range from $0.21 to $0.22, which is far better than the $0.05 per share analysts had expected from Cvent for 2014. This guidance range implies a forward adjusted P/E of roughly 125, based on current share prices.

Cvent also announced that it had acquired Decision Street for an undisclosed amount. The acquisition press release says that Decision Street's "technology will provide a holistic view of group demand and will empower hoteliers with data analytics," which was touted as a good bolt-on to an events-management core at Cvent that already offers similar functionality to hoteliers.