Qualtrics International Inc (NASDAQ:XM) is widely considered the pioneer of the XM — experience management —market, which is vast, estimated at more than $60 billion, and encompasses employee, customer, brand and product experience, according to BofA Securities.
The Qualtrics International Analyst: Adam Bergère reinstated coverage of Qualtrics International with a Buy rating and $40 price target.
The Qualtrics International Takeaways: “The company has a leadership position in the market, with 16,750+ customers, of which more than 89% are Fortune 100 companies,” Bergère said in a Thursday note.
“The company has proven a strong track record of execution thus far and we believe a CX/EX software adoption cycle is underway, fueled by broad DT (digital transformation) mandates with companies increasingly adopting data-driven approaches,” the analyst said.
“We expect the company to continue compounding at a strong rate over the next few years while also simultaneously demonstrating margin expansion/operating leverage, an increasingly rare (and more appreciated) combination within the higher growth application software cohort,” he said.
XM Price Action: Shares of Qualtrics International were down 0.41% at $28.94 Thursday morning.
