Qlik Technologies (QLIK) PT Raised to $47 at Cowen

Cowen analyst Jesse Hulsing reiterated an Outperform rating and boosted his price target on Qlik Technologies (NASDAQ: QLIK) to $47.00 (from $43.00) following results.

Hulsing commented, "The Sense product cycle is driving what we think will be a multi-year reinvigoration of Qlik's growth profile. Upside to 2H numbers seems very achievable, given that sales and marketing push around Sense in the 1H and a stable demand environment in Europe. Margin expansion (and related FCF growth) will be an increasingly big part of the story, but management seems to be on board. PT to $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 $37.60 yesterday.

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