Tableau Software, Inc. (DATA) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Tableau Software, Inc. (NYSE:DATA) from a hold rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $78.00 target price on the software company’s stock.
According to Zacks, “Tableau Software, Inc. engages in providing analytics and data visualization software. The company offers Tableau Desktop, Tableau Server and Tableau Public. It also provides related maintenance and support, and professional and training services. The Company’s product helps a single user on a laptop analyze data from a simple spreadsheet, or to enable thousands of users across an enterprise to execute queries against databases. Tableau Software, Inc. is headquartered in Seattle, Washington. “
Several other analysts have also recently issued reports on DATA. Vetr cut shares of Tableau Software from a strong-buy rating to a buy rating and set a $56.71 price objective for the company. in a research note on Thursday, April 6th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Tableau Software in a research note on Thursday, April 6th. BMO Capital Markets reaffirmed a hold rating and set a $55.00 price objective on shares of Tableau Software in a research note on Friday, April 7th. Wedbush reaffirmed an outperform rating and set a $60.00 price objective on shares of Tableau Software in a research note on Friday, April 7th. Finally, JMP Securities reaffirmed an outperform rating and set a $65.00 price objective on shares of Tableau Software in a research note on Friday, April 7th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $64.52.
Shares of Tableau Software (NYSE DATA) traded down 0.42% on Friday, hitting $71.01. 536,457 shares of the company were exchanged. Tableau Software has a 52-week low of $41.41 and a 52-week high of $71.29. The firm’s 50-day moving average is $63.64 and its 200-day moving average is $56.16. The stock’s market capitalization is $5.58 billion.
Tableau Software (NYSE:DATA) last announced its quarterly earnings data on Wednesday, August 2nd. The software company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.15. Tableau Software had a negative net margin of 17.08% and a negative return on equity of 18.67%. The company had revenue of $212.90 million during the quarter, compared to analysts’ expectations of $210.72 million. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Tableau Software will post $0.18 earnings per share for the current year.
In other Tableau Software news, Director Elliott H. Jurgensen, Jr. sold 8,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $61.46, for a total transaction of $491,680.00. Following the transaction, the director now directly owns 13,781 shares of the company’s stock, valued at approximately $846,980.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas E. Walker, Jr. sold 35,500 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $64.80, for a total transaction of $2,300,400.00. Following the transaction, the chief financial officer now directly owns 170,834 shares in the company, valued at $11,070,043.20. The disclosure for this sale can be found here. Insiders sold a total of 316,025 shares of company stock worth $19,696,668 over the last ninety days. Insiders own 28.98% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Ltd. increased its position in shares of Tableau Software by 142.1% in the first quarter. Pictet Asset Management Ltd. now owns 358,598 shares of the software company’s stock valued at $17,769,000 after buying an additional 210,498 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Tableau Software by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 208,357 shares of the software company’s stock valued at $10,324,000 after buying an additional 10,129 shares during the last quarter. Tygh Capital Management Inc. acquired a new position in shares of Tableau Software during the first quarter valued at about $3,732,000. Opera Trading Capital acquired a new position in shares of Tableau Software during the first quarter valued at about $495,000. Finally, American Century Companies Inc. acquired a new position in shares of Tableau Software during the first quarter valued at about $38,858,000. 76.38% of the stock is currently owned by institutional investors.
Tableau Software Company Profile
Tableau Software, Inc (Tableau) offers software products. The Company’s products are used by people of diverse skill levels across all kinds of organizations. The Company’s products are used by people of skill levels across all kinds of organizations. Its technologies include visual query language (VizQL) and Hybrid Data Architecture.
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