Needham & Company LLC Reiterates Buy Rating for Medallia (NYSE:MDLA)

Medallia (NYSE:MDLA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Wednesday, AnalystRatings.com reports. They currently have a $35.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 39.94% from the stock’s current price.

Several other equities research analysts have also recently commented on MDLA. Wells Fargo & Co lifted their price target on shares of Medallia from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. ValuEngine upgraded shares of Medallia from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Oppenheimer boosted their price objective on shares of Medallia from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Craig Hallum boosted their price objective on shares of Medallia from $30.00 to $35.00 in a report on Wednesday, June 3rd. Finally, Robert W. Baird boosted their price objective on shares of Medallia from $23.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.20.

MDLA opened at $25.01 on Wednesday. The stock has a market capitalization of $3.53 billion and a PE ratio of -14.98. Medallia has a 1-year low of $16.04 and a 1-year high of $44.72. The firm has a 50-day moving average price of $26.46 and a two-hundred day moving average price of $26.17.

Medallia (NYSE:MDLA) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $112.69 million during the quarter, compared to analysts’ expectations of $107.03 million. Medallia had a negative net margin of 33.76% and a negative return on equity of 34.02%. The business’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts expect that Medallia will post -0.63 EPS for the current fiscal year.

In related news, Director Borge Hald sold 200,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $25.36, for a total transaction of $5,072,000.00. Following the completion of the sale, the director now owns 2,795,162 shares of the company’s stock, valued at $70,885,308.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mikael J. Ottosson sold 9,067 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $18.71, for a total transaction of $169,643.57. Following the sale, the executive vice president now directly owns 94,504 shares of the company’s stock, valued at approximately $1,768,169.84. The disclosure for this sale can be found here. Insiders sold 415,270 shares of company stock worth $10,153,754 over the last 90 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Champlain Investment Partners LLC bought a new position in shares of Medallia in the fourth quarter worth about $85,524,000. Alyeska Investment Group L.P. acquired a new stake in Medallia during the 4th quarter valued at approximately $1,093,000. Parametric Portfolio Associates LLC increased its position in Medallia by 33.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 132,024 shares of the company’s stock valued at $2,646,000 after purchasing an additional 32,946 shares during the period. BlackRock Inc. grew its position in Medallia by 142.8% in the 1st quarter. BlackRock Inc. now owns 1,933,470 shares of the company’s stock valued at $38,746,000 after purchasing an additional 1,137,019 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Medallia in the 1st quarter valued at $25,601,000. 81.14% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Medallia (NYSE:MDLA)

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