Jefferies Downgrades Qlik Technologies (QLIK) to Hold
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Price: $30.00 +1.76%
Rating Summary:
15 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
15 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade QLIK Now!
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, with a 52 week range of $19.59-$35.62.
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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, with a 52 week range of $19.59-$35.62.
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