Wedbush Reiterates Outperform on Tableau Software (DATA) Following 4Q

Wedbush reiterated an Outperform rating on Tableau Software (NYSE: DATA), and raised the price target to $70.00 (from $68.00), following the company's 4Q earnings report. License revenue was up 20% Y/Y, resulting in a $5M revenue beat. However, DATA disappointed on EPS due to higher sales commissions and higher-than-expected expenses from shifting sales quotas and plans in 1Q.

Analyst Steve Koenig commented, "We continue to be constructive on DATA shares, which we view as having begun a partial recovery from their sharp correction following disappointing 4Q15 results. As we had hoped, a more flexible approach to large deal structures and pricing is reaccelerating sales activity, resulting in 2Q outperformance in license and license bookings. DATA saw an unexpected mix shift to ratable license bookings, which will likely dampen near-term revenue and EPS optics but lift revenues and create EPS accretion over the medium-term."

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 $56.40 yesterday.

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$231 at Bernstein SocGen
• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$221 at BMO Capital