UBS on Qlik Technologies (QLIK): Revenue Miss Not So Bad; Situation Not Same as INFA

UBS maintains a 'Neutral' on Qlik Technologies (NASDAQ: QLIK) price target of $20.00 (from $26.00).

Analyst, Brent Thill, said, "QLIK investors feared for the worst last week after Informatica (Nasdaq: INFA) missed Q2 rev by $30M, dropping QLIK’s shares by -19%. QLIK’s $8M total revenue miss wasn’t as bad as investors anticipated last week, citing mostly macro related and FX headwind issues for their miss, unlike INFA who also had execution issues. Deals were delayed mostly from prospects needing additional approvals or further ROI justifications, with very few customers cancelling deals completely. We are lowering our estimates and price target, and anticipate an update to their full-year guide on July 26th."

FY12 EPS estimate lowered from $0.45 to $0.39 and FY13 from $0.55 to $0.47.

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 $17.99 yesterday.

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