- Evercore ISI analyst Kirk Materne upgraded Qualtrics International Inc XM to Outperform from In-Line with a $40 price target, suggesting an upside of 51.63%.
- The recent pullback in the shares creates a more attractive risk/reward when taking a 6-12 month view, Materne notes.
- The analyst believes Qualtrics is well-positioned to benefit from a "strong demand environment as customers remain laser-focused on delivering positive customer and employee experiences."
- He expects the company to continue delivering "beat/raise" results in 2022.
- Price Action: XM shares traded higher by 3.15% at $27.21 in the premarket session on the last check Wednesday.
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