Medallia (NYSE:MDLA) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Medallia (NYSE:MDLA) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $34.00 target price on the stock.

According to Zacks, “Medallia, Inc. provides a Software-as-a-Service platform primarily in North America, Europe, the Middle East, Africa and internationally. The company’s platform offers learning-based artificial intelligence technology to analyze structured and unstructured data from signal fields in human, digital and Internet of Things interactions. Its Medallia Experience Cloud platform offers Customer Experience, Business Experience, Employee Experience and Product Experience product suites. The company serves communications and media, hospitality, insurance and automotive companies, as well as banks and companies in retail, technology and manufacturing industries. Medallia, Inc. is based in San Francisco, California. “

A number of other equities analysts have also recently issued reports on MDLA. William Blair initiated coverage on shares of Medallia in a research report on Tuesday, August 13th. They issued an outperform rating on the stock. Bank of America initiated coverage on shares of Medallia in a research report on Tuesday, August 13th. They issued a buy rating and a $50.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of Medallia in a research report on Tuesday, August 13th. They issued a neutral rating and a $40.00 price objective on the stock. CIBC initiated coverage on shares of Medallia in a research report on Tuesday, August 13th. They issued an outperform rating and a $55.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Medallia in a research report on Tuesday, August 13th. They issued a neutral rating and a $40.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Medallia currently has an average rating of Buy and a consensus price target of $46.64.

MDLA stock opened at $28.07 on Wednesday. The company has a 50-day moving average price of $28.51. Medallia has a 12-month low of $23.76 and a 12-month high of $44.72.

Medallia (NYSE:MDLA) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.32 million. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, equities research analysts expect that Medallia will post -1.02 EPS for the current fiscal year.

In related news, Director Douglas M. Leone bought 399,265 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $28.12 per share, with a total value of $11,227,331.80.

Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC bought a new stake in shares of Medallia during the 3rd quarter valued at about $10,006,000. Dean Capital Investments Management LLC bought a new stake in shares of Medallia during the 3rd quarter valued at about $444,000. Tygh Capital Management Inc. bought a new stake in shares of Medallia during the 3rd quarter valued at about $2,035,000. Russell Investments Group Ltd. bought a new stake in shares of Medallia during the 3rd quarter valued at about $3,153,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Medallia during the 3rd quarter valued at about $296,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

About Medallia

Medallia, Inc provides an enterprise Software-as-a-Service platform in North America, Europe, the Middle East, Africa, and internationally. The company's platform utilizes deep learning-based artificial intelligence technology to analyze structured and unstructured data from signal fields in human, digital, and Internet of Things interactions.

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