Wedbush Remains Bullish as Tableau Software (DATA) Announces New CEO

August 23, 2016 6:50 AM EDT
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Wedbush reiterated an Outperform rating and $70.00 price target on Tableau Software (NYSE: DATA) following the company's announced appointment of Adam Selipsky as new CEO. DATA’s co-founder and current CEO Christian Chabot will continue to serve as executive chairman of Tableau’s board. Selipsky is expected to start on September 16th.

Analyst Steve Koenig commented, "We believe the company’s motivation in adding Selipsky is to augment the company’s leadership capabilities, specifically with respect to enterprise computing and the cloud, to enable DATA to scale. More specifically, we think Selipsky’s appointment can accelerate progress in addressing execution issues that have been impacting the company, such as developing an institutional capability to close larger enterprise deals, broadening the company’s product portfolio, and offering contracting options beyond perpetual licenses."

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 $54.87 yesterday.

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