Online survey software provider Qualtrics (NASDAQ:XM) will be reporting earnings today after the bell. Here's what you need to know.
Last quarter Qualtrics reported revenues of $356.3 million, up 42.9% year on year, beating analyst revenue expectations by 3.34%. It was a decent quarter for the company, with an exceptional revenue growth.
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This quarter analysts are expecting Qualtrics's revenue to grow 31.9% year on year to $358.5 million, slowing down from the 40.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.02 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.7%.
With Qualtrics being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for sales and marketing software stocks, but the whole sector have been hit hard on fears of higher interest rates, with stocks down on average 7.07% over the last month. Qualtrics is down 3.56% during the same time, and is heading into the earnings with analyst price target of $18.64, compared to share price of $10.56.
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The author has no position in any of the stocks mentioned.