UPDATE: William Blair Starts Qualtrics (XM) at Outperform

February 22, 2021 6:53 AM EST
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Price: $33.99 +1.77%

Rating Summary:
    9 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - February 22, 2021 6:54 AM EST)

William Blair analyst Bhavan Suri initiates coverage on Qualtrics (NASDAQ: XM) with a Outperform rating.

The analyst comments " At a revenue run-rate of $770 million (with 30%-plus subscription growth) and a customer base of nearly 13,000, Qualtrics is the market leader in the emerging experience management software space... Large market that is still in the early innings. In our view, customer experience (and the broader experience management space) is one of the most exciting markets in enterprise software. The company pegs the total addressable market (TAM) at $60 billion. Our more conservative bottom-up build shows a $47 billion market, still a sizable opportunity that we believe can support strong growth over the next decade. With just 14,000 customers between the top two vendors in the market, we see plenty of greenfield opportunity ahead."

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 $45.00 yesterday.

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