Qualtrics gains on strong Q3 results; brokerages hike PT

Qualtrics International

21/10/2021 12:11

** Business software firm Qualtrics International's shares
 XM.O  up ~7% at $47.3 premarket - set for their best day since
May 14
    ** Co raises its FY21 revenue forecast with a midpoint of
$1.06 bln, above analysts' average estimate of $1.01 bln, after
beating Q3 revenue and profit expectations  urn:newsml:reuters.com:*:nL1N2RG2ZY
    ** Q3 sales up 41% at $271.6 mln and profit of 1 cent per
share vs est. sales of $258.19 mln and a loss of 2 cents per
share
    ** Analysts Piper Sandler, JP Morgan, Raymond James,
Barclays, Oppenheimer, BMO and Canaccord Genuity raise XM's PT
    ** Oppenheimer ("outperform," PT:$60) says XM well
positioned to continue capitalizing on priority spending for
self-service and experience management tech that boost
engagement and retention
    ** Barclays ("equal weight," PT:$53) maintains "equal
weight" as valuation at a premium to peers 
    ** 11 of 15 brokerages rate the stock "buy" or higher and 4
"hold"; their median PT is $53 - Refinitiv data
    ** Up to last close, stock had risen 2.8% since its debut on
Jan. 28

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))