Jefferies Downgrades Qlik Technologies (QLIK) to Hold

July 2, 2012 7:05 AM EDT
Get Alerts QLIK Hot Sheet
Price: $30.50 --0%

Rating Summary:
    15 Buy, 23 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies downgraded Qlik Technologies (NASDAQ: QLIK) from Buy to Hold with a price target of $24.00 (from $35.00).

The firm comments, "We downgrade QLIK to Hold and set a $24PT based on recent field work that suggests softer trends in 2Q12, materially lower growth expectations for CY12 and increasing competitive pressures. The stock has underperformed in the last 3 months, but we fear Street ests may be too high and there is still some growth premium in the valuation."

FY12 EPS goes from $0.42 to $0.37 and FY13 goes from $0.62 to $0.57.

For an analyst ratings summary and ratings history on Qlik Technologies click here. For more ratings news on Qlik Technologies click here.

Shares of Qlik Technologies closed at $22.12 yesterday.

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