UPDATE: Oppenheimer Starts UserTesting Inc (USER) at Outperform

Oppenheimer analyst Brian Schwartz initiates coverage on UserTesting Inc (NYSE: USER) with a Outperform rating and a price target of $14.00.

The analyst comments "We launch coverage on USER shares with an Outperform rating and $14 PT. Over the past decade, SaaS stocks viewed as leading industry disrupters and/or innovators have created significant wealth. UserTesting appears to be at the forefront of next-generation human insights vendors that recognize the sweeping changes happening in the research process that require a broad set of new capabilities (SaaS, real-time testing and results, panels, extensibility, fast time-to-value, etc.) to optimize customer experience and product development. Bottom Line: We view UserTesting, which recently came public, as a leading technology disruptor and believe the stock has catalysts and a strong management team to support fast SaaS growth for the foreseeable future, and to us, a reasonable valuation, which is increasingly difficult to find in the SaaS market."

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

Shares of UserTesting Inc closed at $8.38 yesterday.

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