Rosenblatt Starts Tableau Software (DATA) at Buy
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Rosenblatt initiates coverage on Tableau Software (NYSE: DATA) with a Buy rating and a price target of $70.00.
Analyst Marshall Senk commented, "Tableau has been on an historic run, growing its business 10x over the past five years as it redefined data visualization for analytics. In Q4, DATA reported a license shortfall and presented a disappointing 2016 outlook driving the stock down 50%. While the stock has shown a strong recovery moving 46% off of the lows, we view the depth of the selloff as being overdone and believe the move up was warranted both as emotions settled down and the company has put up two consecutive much improved quarters. We attribute this rebound to both significant new product flow (release 9.3) and changes to sales operations that have made the company more effective at negotiating larger transactions with enterprise customers."
Shares of Tableau Software closed at $53.71 yesterday.
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