After a Hot Early-2021 IPO, Is Qualtrics Stock a Buy Right Now?

After a hot start early in the year, shares of Qualtrics (NASDAQ: XM) are currently sitting on a 4% decline since making their publicly traded debut in January 2021, compared to a 14% gain for the S&P 500 over that same span of time. Such underperformance isn't out of the ordinary for IPO stocks, but it is hiding a noteworthy growth story at Qualtrics. The digital experience management software firm is riding a wave of activity as organizations scramble to get their operations upgraded for the cloud era.