Barclays Maintains an 'Overweight' on Qlik Technologies (QLIK); Still Sees Strategic Value, Likes Long-Term Story

July 10, 2012 4:00 PM EDT
Get Alerts QLIK Hot Sheet
Price: $30.50 --0%

Rating Summary:
    15 Buy, 23 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Barclays maintains an 'Overweight' on Qlik Technologies (NASDAQ: QLIK) price target of $29.00 (from $36.00)

Analyst, Raimo Lenschow, defends the stock despite Q2's pre-announcement to the downside.

Lenschow said, "...some weakness was caused by macro issues lengthening sales cycles and deal slippage, especially in Europe. However, the stock performance had already been pricing in significant bad news and the negative surprise was not actually as bad as some had feared leading to the shares relative outperforms despite the warning."

In conclusion, Lenschow sees strategic value, likes the long-term story and large market opportunity for Data Visualization offering complements to 'Big Data' vendors like SAP (NYSE: SAP), Oracle (Nasdaq: ORCL) and IBM (NYSE: IBM).

For an analyst ratings summary and ratings history on Qlik Technologies click here. For more ratings news on Qlik Technologies click here.

Shares of Qlik Technologies closed at $17.99 yesterday.

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