Xactly Corp's (XTLY) 'Buy' Rating Maintained at Dougherty into Q2 Results
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Dougherty & Co maintained a Buy rating on XACTLY Corp (NYSE: XTLY) with a price target of $18. Analyst Robert Mattson said the company is poised to gain share, and he expects a "clean" Q2 earnings report on Thursday.
"We are anticipating another clean earnings report with metrics and commentary that should get investors more comfortable with the 30% subscription growth profile of the company. Based on industry discussions and our estimates, Xactly is poised to outgrow the competition on several different measures which is not reflected in the company's relative valuation. Going into the earnings report, we are maintaining our BUY rating, estimates, and Price Target," said Mattson.
The analyst added, "This coming Thursday, September 8th, Xactly is set to announce its fiscal year 2017 second quarter results. We are comfortable with company’s ability to meet consensus estimates for the quarter and provide guidance at least inline with consensus (see the attached Tables for details). Management should again be able to deliver another quarter of margin improvement as they work towards the target model."
Shares of XACTLY Corp closed at $14.72 yesterday.
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