Qualtrics drops as PT cuts pour in after bigger Q1 loss, deal slippage

Qualtrics International

22/04/2022 16:08

** Shares of business software co  XM.O  down 5% at $23,
headed for their lowest level in three months
    ** Co posts Q1 loss of $0.51/sh compared to estimates of a
$0.01/sh loss, per Refinitiv data
    ** Further, co flags deal slippage in Europe during earnings
call, saying, "a few customers in Europe were hesitant to pull
the trigger up in deals and (delayed) it into the following
quarter"  urn:newsml:reuters.com:*:nTRN2XblBG
    ** Investors have their radar turned up for this type of
commentary, says J.P. Morgan, reducing PT to $38 from $45
    ** Barclays also cuts PT by $2 to $30, saying it doesn't see
upside potential from here given macroeconomic uncertainty
    ** Oppenheimer cuts price by $10 to $35 due to deal slippage
and decelerating business; at least four other brokerages lower
PT
    ** Stock has plunged 35% YTD vs Datadog's  DDOG.O  31% slump
and Nasdaq's  IXIC  16% decline

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))