Qualtrics International (NYSE:XM) Trading 6.4% Higher Following Analyst Upgrade

Shares of Qualtrics International Inc. (NYSE:XM) traded up 6.4% during trading on Thursday after Piper Sandler raised their price target on the stock from $49.00 to $50.00. Piper Sandler currently has an overweight rating on the stock. Qualtrics International traded as high as $39.48 and last traded at $39.23. 34,065 shares were traded during mid-day trading, a decline of 96% from the average session volume of 905,753 shares. The stock had previously closed at $36.86.

XM has been the subject of a number of other research reports. Raymond James cut their price target on shares of Qualtrics International from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, April 22nd. Barclays increased their price target on shares of Qualtrics International from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America increased their price target on shares of Qualtrics International from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital increased their price target on shares of Qualtrics International from $35.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Oppenheimer cut their target price on shares of Qualtrics International from $57.00 to $51.00 in a research note on Wednesday, May 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $48.83.

In other Qualtrics International news, CTO John Thimsen sold 24,993 shares of the firm’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $35.48, for a total value of $886,751.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Robert W. Bachman sold 5,885 shares of the firm’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $35.48, for a total transaction of $208,799.80. Following the completion of the transaction, the chief financial officer now directly owns 515,436 shares in the company, valued at $18,287,669.28. The disclosure for this sale can be found here. Insiders sold a total of 224,496 shares of company stock valued at $7,965,118 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich bought a new position in Qualtrics International in the 1st quarter valued at about $33,000. Fifth Third Bancorp bought a new position in Qualtrics International in the 1st quarter valued at about $33,000. Crewe Advisors LLC bought a new stake in shares of Qualtrics International during the 1st quarter valued at approximately $38,000. The PNC Financial Services Group Inc. bought a new stake in shares of Qualtrics International during the 1st quarter valued at approximately $37,000. Finally, Nvwm LLC bought a new stake in shares of Qualtrics International during the 1st quarter valued at approximately $56,000. 13.85% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $19.81 billion and a P/E ratio of -61.55. The company’s fifty day moving average is $35.29.

Qualtrics International (NYSE:XM) last announced its quarterly earnings results on Monday, July 19th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $249.35 million for the quarter, compared to the consensus estimate of $241.66 million. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. As a group, analysts predict that Qualtrics International Inc. will post -1.72 earnings per share for the current year.

About Qualtrics International (NYSE:XM)

Qualtrics International Inc provides an experience management platform for organizations to design, manage, and improve customer, employee, product, and brand experiences of businesses. The company offers Qualtrics XM Platform, a system of action that allows organizations to design new breakthrough experiences; and continuously improve broken experiences through identifying issues, addressing the root cause, and then overhauling processes before they manifest as lower trending satisfaction scores.

Further Reading: What is the Stochastic Momentum Index (SMI)?

Receive News & Ratings for Qualtrics International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualtrics International and related companies with MarketBeat.com's FREE daily email newsletter.