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UPDATE: Evercore ISI Upgrades Qualtrics (XM) to Outperform

January 19, 2022 5:12 AM EST
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Price: $10.48 -5.07%

Rating Summary:
    16 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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(Updated - January 19, 2022 5:13 AM EST)

Evercore ISI analyst Kirk Materne upgraded Qualtrics (NASDAQ: XM) from In Line to Outperform with a price target of $40.00 (from $50.00).

The analyst comments "We are upgrading Qualtrics to Outperform as we believe that the recent pullback in the shares creates a more attractive risk/reward when taking a 6-12 month view. When adjusting our PT to account for higher interest rates/lower multiples across the space, our updated $40 PT still offers ~50% upside from current levels. As a refresher, Qualtrics is a ~$1bn SaaS platform that is defining a new category of software (Experience Management), and in our view, is well positioned to benefit from a strong demand environment as customers remain laser focused on delivering positive customer and employee experiences. We believe this puts XM in a strong position to continue to deliver beat/raise results in CY22."

For an analyst ratings summary and ratings history on Qualtrics click here. For more ratings news on Qualtrics click here.

Shares of Qualtrics closed at $26.38 yesterday.


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Analyst Comments, Analyst PT Change, Hot Upgrades, Upgrades