Xactly Corporation’s (XTLY) “Buy” Rating Reaffirmed at Needham & Company LLC
Xactly Corporation (NASDAQ:XTLY)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report released on Wednesday. They presently have a $18.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 23.54% from the stock’s current price.
A number of other brokerages have also recently commented on XTLY. Lake Street Capital lifted their price target on Xactly Corporation from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Deutsche Bank AG lifted their price target on Xactly Corporation from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Dougherty & Co reaffirmed a “buy” rating and issued a $20.00 price target on shares of Xactly Corporation in a research note on Tuesday, September 6th. Oppenheimer Holdings Inc. lifted their price target on Xactly Corporation from $13.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. Finally, Zacks Investment Research cut Xactly Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Eight equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $17.57.
Shares of Xactly Corporation (NASDAQ:XTLY) traded down 0.21% during trading on Wednesday, hitting $14.54. The company had a trading volume of 103,995 shares. The firm’s market capitalization is $447.11 million. Xactly Corporation has a 1-year low of $4.68 and a 1-year high of $16.10. The company’s 50 day moving average is $14.23 and its 200 day moving average is $11.41.
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Xactly Corporation (NASDAQ:XTLY) last released its earnings results on Thursday, September 8th. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. The firm earned $24 million during the quarter, compared to the consensus estimate of $23.37 million. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. Analysts anticipate that Xactly Corporation will post ($0.43) earnings per share for the current fiscal year.
In other news, Director Carol Mills sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $12.67, for a total transaction of $316,750.00. Following the transaction, the director now directly owns 34,364 shares of the company’s stock, valued at $435,391.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Cabrera sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $15.08, for a total value of $120,640.00. Following the transaction, the chief executive officer now directly owns 104,500 shares in the company, valued at $1,575,860. The disclosure for this sale can be found here.
Large investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its stake in shares of Xactly Corporation by 139.9% in the second quarter. Nationwide Fund Advisors now owns 14,929 shares of the company’s stock valued at $191,000 after buying an additional 8,706 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Xactly Corporation by 59.5% in the second quarter. JPMorgan Chase & Co. now owns 871,550 shares of the company’s stock valued at $11,165,000 after buying an additional 325,216 shares during the last quarter. First Washington CORP purchased a new stake in shares of Xactly Corporation during the second quarter valued at $1,062,000. Fortaleza Asset Management Inc. purchased a new stake in shares of Xactly Corporation during the second quarter valued at $121,000. Finally, EAM Investors LLC boosted its stake in shares of Xactly Corporation by 115.8% in the second quarter. EAM Investors LLC now owns 231,550 shares of the company’s stock valued at $2,966,000 after buying an additional 124,255 shares during the last quarter.
Xactly Corporation Company Profile
Xactly Corporation is a provider of cloud-based incentive compensation solutions for employee and sales performance management. The Company delivers its solutions through a software-as-a-service (SaaS) business model. The Company has a customer base, including companies in various industries, such as business and financial services, communications, life sciences, media and Internet, SaaS and traditional software, and retail.
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