Goldman Sachs Adds This Software Technology Company To Conviction List With 58% Upside Potential

Goldman Sachs analyst Gabriela Borges initiated coverage of Qualtrics International Inc XM with a Buy rating and a $53 price target.
The analyst also added the stock to Goldman's Conviction List with a 58% upside to the price target.
Borges views Qualtrics as a market leader in customer experience, a segment she believes is growing in importance. Customers look to understand areas for improvement across digital engagement to optimize.
Qualtrics should benefit from the net new budget as well as consolidation of spending from a "long tail of fragmented vendors as a function of its technology breadth and depth," Borges tells investors in a research note.
Qualtrics is a software technology company that develops software for organizations.
Price Action: XM shares traded higher by 2.77% at $34.50 in the premarket session on the last check Monday.