Medallia Inc. (MDLA) PT Lowered to $40 at Stephens, Following Earnings

December 6, 2019 1:02 PM EST
Get Alerts MDLA Hot Sheet
Price: $33.60 +0.75%

Rating Summary:
    12 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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Stephens analyst James Rutherford lowered the price target on Medallia Inc. (NYSE: MDLA) to $40.00 (from $52.00) while maintaining a Overweight rating.

Analyst comments: "We are lowering our twelve-month price target on MDLA from $52 to $40. The change is not because we have a lower conviction on the story, but because we use a relative multiple to value the stock and multiples on high-growth SaaS stocks have come down since we initiated coverage in July 2019. Our new $40 target is based on 12x EV/NTM revenues one year from today, which we believe is fair given the group of 20%+ SaaS companies is currently trading at 13x on average."

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