Xactly Corporation (XTLY): Partnership Adds Distribution, Raising PT - Needham
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Needham & Company analyst, Scott Berg, reiterated his Buy rating on XACTLY Corp (NYSE: XTLY) and raised his price target to $18 from $15 after the company reported 2Q results ahead of expectations.
Revenue of $24.0mm increased 30.6% Y/Y to $24.0mm, its third consecutive quarter with greater than 30% Y/Y revenue growth. EPS was /$0.08). 2Q billings grew 27.7% Y/Y to $25.4mm, beating the 23.7% estimate of $24.5mm and in line with checks that indicated billings could outperform consensus of $23.0mm.
The company announced what the analyst believes is a very instrumental partnership, this time Towers Watson, an HR/Employee Benefits consulting firm.
The PT goes to $15 from $18 as the analyst believes the underlying sales trends remain strong enough to drive a sustained high 20% to 30% overall revenue growth rate with cash flow margins that continue to improve.
Shares of XACTLY Corp closed at $14.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!