Jefferies Cuts Price Target on Tableau Software (DATA) to $52 Following 2Q
Jefferies maintained a Hold rating on Tableau Software (NYSE: DATA), and cut the price target to $52.00 (from $56.00), following the company's 2Q earnings report. DATA reported Non-GAAP EPS of breakeven, below estimates of $0.05 while total revenue of $198.5M and license revenue of $116.3M both exceeded the Street’s expectations for $193.7M and $112.8M respectively.
Analyst John DiFucci commented, "DATA reported a solid top line relative to expectations, with license growth accelerating from the previous period, albeit off a much easier comp. However, the bottom line was uncharacteristically below expectations and guidance was reduced partially due to greater assumed ratable revenue than previously."
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Shares of Tableau Software closed at $56.40 yesterday.