Goldman Sachs Starts Tableau Software (DATA) at Neutral

Goldman Sachs initiated coverage on Tableau Software (NYSE: DATA) with a Neutral rating and a price target of $47.00.

Analyst Greg Dunham said, "We see Tableau leveraging highly differentiated IP and a design-focused product strategy to drive viral growth. 2012 revenue growth was more than 100% as DATA benefited from the transformation of the $13bn business intelligence market to next-gen solutions and expands the market by empowering more of the 600mn plus knowledge workers with enterpriseclass analytics. Despite our positive view, at 15.5x 2014 EV/revenues versus the group at 8.3x, we see limited near-term upside."

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 $58.11 yesterday.

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