Expectations Catch Up with Tableau (DATA), PT Cut to $65 - Jefferies
Jefferies analyst John DiFucci reiterated a Hold rating and cut his price target on Tableau Software (NYSE: DATA) to $65.00 (from $92.00) following Q4 results and weak guidance.
DiFucci commented, "Expectations finally became too great for DATA. 4Q results that were in line with consensus numbers were obviously not in line with expectations, as DATA traded off sharply after hours and accelerated to the downside when disappointing guidance was given. Softening IT spend and competition were given as reasons, but we hear of a decent spending environment in the field. We continue to wonder if free Qlik Sense desktop is having an effect."
The firm cut FY 2016 EPS from $0.71 to $0.32.
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Shares of Tableau Software closed at $81.75 yesterday.