Tableau Software (DATA): Still Trying To Crack The Enterprise - Wedbush

November 2, 2016 8:10 AM EDT
Get Alerts DATA Hot Sheet
Price: $44.34 +0.36%

Rating Summary:
    18 Buy, 20 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Wedbush analyst, Steve Koenig, reiterated his Outperform rating on shares of Tableau Software (NYSE: DATA) but cut his price target to $53 from $65 nothing that the company has not cracked the code for Enterprise Selling.

Perhaps more importantly, a higher ratable bookings mix (without incremental clarity on the long-term fundamentals) materialized in guidance. The analyst is incrementally more cautious about DATA, but is maintaining his rating based on two catalysts:
1) recruitment of a global sales leader
2) a multi-year transition plan which we expect to accompany the 4Q earnings call

Checks and valuation remain generally favorable at 3.6x EV/FY17E revenue even before expected negative price action.

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 $49.51 yesterday.



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