UPDATE: William Blair Starts Qualtrics (XM) at Outperform
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
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."
Shares of Qualtrics closed at $45.00 yesterday.
You May Also Be Interested In
- Seven Group Holdings Limited (SVW:AU) (SVNWF) PT Raised to AUD27.50 at Credit Suisse
- Seven Group Holdings Limited (SVW:AU) (SVNWF) PT Raised to AUD23.80 at Goldman Sachs
- Mineral Resources Limited (MIN:AU) (MALRF) PT Lowered to AUD32 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesWilliam Blair
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!