Evercore ISI analyst Kirk Materne upgraded Qualtrics International Inc. to Outperform from In-Line with a $40 price target, suggesting an upside of 51.63 percent.
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.
By Anusuya Lahiri
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