Morgan Stanley Trims Qualtrics International (NYSE:XM) Target Price to $43.00

Qualtrics International (NYSE:XMGet Rating) had its price target reduced by research analysts at Morgan Stanley from $54.00 to $43.00 in a research report issued to clients and investors on Friday, The Fly reports. Morgan Stanley’s price objective suggests a potential upside of 76.66% from the company’s previous close.

Several other research analysts also recently commented on the company. BNP Paribas assumed coverage on Qualtrics International in a research note on Tuesday, March 29th. They issued a “neutral” rating and a $28.00 price objective for the company. JMP Securities reduced their price objective on Qualtrics International from $59.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday. Truist Financial reduced their price objective on Qualtrics International from $62.00 to $50.00 in a research note on Thursday, January 27th. Piper Sandler reduced their price objective on Qualtrics International from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Loop Capital reduced their price objective on Qualtrics International from $48.00 to $27.00 in a research note on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $39.24.

Qualtrics International stock opened at $24.34 on Friday. Qualtrics International has a 12 month low of $22.72 and a 12 month high of $49.03. The stock’s 50 day simple moving average is $28.37 and its two-hundred day simple moving average is $32.98. The firm has a market cap of $13.17 billion, a PE ratio of -11.93 and a beta of 1.65.

Qualtrics International (NYSE:XMGet Rating) last announced its earnings results on Thursday, April 21st. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $335.60 million during the quarter, compared to the consensus estimate of $325.66 million. Qualtrics International had a negative return on equity of 198.58% and a negative net margin of 98.46%. The business’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS. As a group, sell-side analysts forecast that Qualtrics International will post -1.71 earnings per share for the current fiscal year.

In other Qualtrics International news, Director Vi (Gp) L.L.C. Slta purchased 72,075 shares of the stock in a transaction dated Friday, March 11th. The stock was acquired at an average cost of $27.90 per share, for a total transaction of $2,010,892.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 693,047 shares of company stock valued at $19,483,020. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Cypress Wealth Services LLC purchased a new position in Qualtrics International during the 1st quarter valued at about $248,000. Stanley Laman Group Ltd. purchased a new position in Qualtrics International during the 1st quarter valued at about $10,788,000. FirstPurpose Wealth LLC boosted its holdings in Qualtrics International by 79.0% during the 1st quarter. FirstPurpose Wealth LLC now owns 12,287 shares of the company’s stock valued at $351,000 after acquiring an additional 5,421 shares during the period. Cedar Mountain Advisors LLC purchased a new position in Qualtrics International during the 1st quarter valued at about $26,000. Finally, HHR Asset Management LLC boosted its holdings in Qualtrics International by 660.7% during the 1st quarter. HHR Asset Management LLC now owns 823,399 shares of the company’s stock valued at $23,508,000 after acquiring an additional 715,152 shares during the period. Institutional investors own 15.72% of the company’s stock.

About Qualtrics International (Get Rating)

Qualtrics International Inc operates an experience management platform to manage customer, employee, product, and brand experiences worldwide. The company offers The Qualtrics Experience Management Platform, a system of action that guides users with specific instructions for improvement and automated actions to improve experiences, as well as for listening, understanding, and taking action on both structured and unstructured data.

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