Tableau Software (DATA): Raising PT on CEO Change - Barclays
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Barclays analyst, Raimo Lenschow, reiterated his Overweight rating on shares of Tableau Software (NYSE: DATA) and increased his price target to $71.00 (from $59.00) after the appointment of Adam Selipsky as the new CEO.
The analyst stated "This is a logical step in the Tableau journey to create a multi-billion dollar revenue company in the BI space. We believe this announcement will remove some of the discount that shares have been suffering from after several mixed quarters".
The $71 PT is based on a 5x EV/Sales (prior 4x).
Shares of Tableau Software closed at $54.87 yesterday.
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