Qualtrics (XM) PT Lowered to $16 at BMO Capital

July 19, 2022 1:32 PM EDT
Get Alerts XM Hot Sheet
Price: $10.41 +2.26%

Rating Summary:
    16 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 11
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BMO Capital analyst Keith Bachman lowered the price target on Qualtrics (NASDAQ: XM) to $16.00 (from $32.00) while maintaining an Outperform rating amid macro challenges.

The analyst commented, "Given incremental global economic weakness as well as potential sales cycle elongation, we are lowering our XM estimates and target price to $16. Moreover, we have some concern that XM’s offerings may not be top of stack in terms of priority of spend in the event of a sustained economic slowdown. Nevertheless, we continue to like the XM story, and the stock reflects at least a portion of risk to growth over the medium term. We retain our Outperform rating."

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