Mizuho Securities Raises Price Target on Tableau Software (DATA) to $108 Following 2Q15

Mizuho Securities reiterated a Neutral rating on Tableau Software (NYSE: DATA), and raised the price target of $108.00 (from $100.00), following 2Q15 results. Total revenue of $150mm was ~$9mm above consensus. EPS was at $0.07 vs. consensus of $0.05. Management raised FY15 revenue guidance to $617-627mm, up from $600-610mm, versus consensus of $618mm.

Analyst Abhey Lamba commented, "Tableau's results were better than consensus and the underlying market is growing strongly but expectations were clearly elevated for the stock going into the print. The company has been posting strong results until now and has been raising full year outlook meaningfully above then consensus. However, this is the first time that its updated forecast has bracketed consensus. We continue to like the space and Tableau's market position but believe that the stock is appropriately priced at the current level. We reiterate our Neutral rating while adjusting PT to $108 from $100."

For an analyst ratings summary and ratings history on Tableau Software click here. For more ratings news on Tableau Software click here.

Shares of Tableau Software closed at $113.49 yesterday.

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