Tableau Software (DATA) PT Raised to $120.00

Tableau Software (NYSE:DATA) had its target price raised by stock analysts at Royal Bank of Canada to $120.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has a “market perform” rating on the software company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 6.56% from the company’s previous close.

DATA has been the subject of several other reports. Deutsche Bank upgraded shares of Tableau Software from a “hold” rating to a “buy” rating and upped their price target for the stock from $105.00 to $120.00 in a report on Wednesday, August 1st. UBS Group reiterated a “buy” rating and set a $130.00 price target (up from $114.00) on shares of Tableau Software in a report on Friday, August 3rd. Bank of America upped their price target on shares of Tableau Software from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reiterated a “buy” rating on shares of Tableau Software in a report on Tuesday, July 31st. Finally, Morgan Stanley increased their price objective on Tableau Software from $90.00 to $119.00 and gave the company a “hold” rating in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $116.27.

Shares of NYSE:DATA traded down $7.05 during trading on Wednesday, hitting $112.61. 89,516 shares of the company were exchanged, compared to its average volume of 944,357. The company has a market capitalization of $8.71 billion, a PE ratio of -47.96 and a beta of 1.34. Tableau Software has a 1-year low of $68.37 and a 1-year high of $125.50.

Tableau Software (NYSE:DATA) last announced its quarterly earnings results on Tuesday, November 6th. The software company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.15). The company had revenue of $239.60 million for the quarter, compared to analyst estimates of $242.19 million. Tableau Software had a negative return on equity of 26.14% and a negative net margin of 22.39%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Sell-side analysts expect that Tableau Software will post -2.71 earnings per share for the current fiscal year.

In other Tableau Software news, insider Chris Stolte sold 95,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $102.64, for a total transaction of $9,750,800.00. Following the completion of the sale, the insider now directly owns 98,536 shares in the company, valued at approximately $10,113,735.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 6,827 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $102.76, for a total value of $701,542.52. Following the sale, the chief executive officer now owns 270,208 shares of the company’s stock, valued at $27,766,574.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,672 shares of company stock valued at $22,674,095. Company insiders own 28.98% of the company’s stock.

A number of institutional investors have recently modified their holdings of DATA. FMR LLC boosted its position in shares of Tableau Software by 4,138.8% during the 2nd quarter. FMR LLC now owns 2,323,496 shares of the software company’s stock worth $227,122,000 after purchasing an additional 2,268,681 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Tableau Software during the 2nd quarter worth about $40,802,000. Carillon Tower Advisers Inc. boosted its position in shares of Tableau Software by 61.7% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 959,019 shares of the software company’s stock worth $93,743,000 after purchasing an additional 366,103 shares in the last quarter. BlackRock Inc. boosted its position in shares of Tableau Software by 10.8% during the 2nd quarter. BlackRock Inc. now owns 3,572,065 shares of the software company’s stock worth $349,168,000 after purchasing an additional 348,593 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Tableau Software by 11.7% during the 2nd quarter. Baillie Gifford & Co. now owns 1,716,736 shares of the software company’s stock worth $167,811,000 after purchasing an additional 179,906 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About Tableau Software

Tableau Software, Inc provides business analytics software products. It offers Tableau Desktop, an analytics product that empowers people to access and analyze data; and Tableau Server, a business intelligence platform with data management and scalability to foster sharing of analytics, as well as to enhance the dissemination of information in an organization and promote decision-making.

Further Reading: Hedge Funds Explained

The Fly

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