Published On: Fri, Sep 9th, 2016

Lake Street Capital Increases Xactly Corporation (XTLY) Price Target to $16.00

Xactly Corporation (NASDAQ:XTLY) had its target price upped by Lake Street Capital from $13.00 to $16.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 7.96% from the company’s current price.
A number of other equities research analysts have also commented on XTLY. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target (up from $13.00) on shares of Xactly Corporation in a report on Tuesday, June 7th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Xactly Corporation in a report on Tuesday, June 7th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Xactly Corporation in a report on Monday, June 6th. Zacks Investment Research upgraded shares of Xactly Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, June 10th. Finally, National Securities initiated coverage on shares of Xactly Corporation in a report on Tuesday, August 2nd. They set a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Xactly Corporation currently has a consensus rating of “Buy” and a consensus price target of $16.50.
Xactly Corporation (NASDAQ:XTLY) opened at 13.58 on Friday. Xactly Corporation has a 1-year low of $4.68 and a 1-year high of $14.90. The firm has a 50 day moving average of $13.49 and a 200-day moving average of $10.02. The company’s market capitalization is $409.12 million.

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Xactly Corporation (NASDAQ:XTLY) last announced its quarterly earnings data 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 business 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. On average, equities research analysts anticipate that Xactly Corporation will post ($0.52) earnings per share for the current fiscal year.
In other news, CEO Christopher Cabrera sold 30,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $12.00, for a total value of $360,000.00. Following the sale, the chief executive officer now directly owns 121,000 shares of the company’s stock, valued at approximately $1,452,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol Mills sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $14.21, for a total transaction of $355,250.00. Following the completion of the sale, the director now directly owns 34,364 shares in the company, valued at $488,312.44. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Edge Wealth Management LLC increased its stake in Xactly Corporation by 36.5% in the second quarter. Edge Wealth Management LLC now owns 19,650 shares of the company’s stock worth $248,000 after buying an additional 5,250 shares in the last quarter. Strs Ohio increased its stake in Xactly Corporation by 1,920.0% in the second quarter. Strs Ohio now owns 50,500 shares of the company’s stock worth $646,000 after buying an additional 48,000 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Xactly Corporation during the second quarter worth $1,112,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Xactly Corporation during the second quarter worth $2,889,000. Finally, Emerald Advisers Inc. PA acquired a new stake in Xactly Corporation during the second quarter worth $3,039,000.
About Xactly Corporation
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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