UPDATE: Goldman Sachs Upgrades Talend SA (TLND) to Buy
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(Updated - October 13, 2016 9:09 AM EDT)
Goldman Sachs upgraded Talend SA (NASDAQ: TLND) from Neutral to Buy with a price target of $31, implying upside of 37%. Analyst Jesse Hulsing thinks the company will benefit as analytic workloads moving to the cloud.
"The recent pullback in the stock (-16% over the last month, due in part to GBP weakness) creates an opportunity in a name we believe 1) can sustain growth >30% subscription through FY18 due to tailwinds from big data and cloud adoption, 2) is FCF positive with a unique-for-software path to GAAP profitability, and 3) is now undervalued vs growth comps (4.5x EV/sales vs peers at 7.4x)," said Hulsing.
Shares of Talend SA closed at $22.22 yesterday.
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