Stock Update (NYSE:DATA): Tableau Software Inc Reports Second Quarter 2016 Financial Results


Tableau Software Inc (NYSE:DATA) reported results for its second quarter ended June 30, 2016.

“Overall, we are pleased with our second quarter results as they demonstrate that the move to visual analytics continues to thrive. In Q2, more than 3,900 new customer accounts chose Tableau, the highest quarterly addition in our history, bringing the total to more than 46,000 worldwide,” said Christian Chabot, Chief Executive Officer of Tableau. “Our results demonstrate that analytics is as important as ever to companies of all sizes, and we are extending our leadership position in the market at scale.”

Financial Results
Total revenue increased 32% to $198.5 million, up from $149.9 million in the second quarter of 2015. License revenue increased 20% to $116.3 million, up from $96.7 million in the second quarter of 2015. International revenue grew to $57.1 million, up 55% from$36.7 million in the second quarter of 2015.

GAAP operating loss for the second quarter of 2016 was $46.9 million, compared to a GAAP operating loss of $18.0 million for the second quarter of 2015. GAAP net loss for the second quarter of 2016 was $47.5 million, or $0.64 per diluted common share, compared to a GAAP net loss of $19.0 million, or $0.27 per diluted common share, for the second quarter of 2015.

Non-GAAP operating loss, which excludes stock-based compensation expense and expense related to amortization of acquired intangible assets, was $1.4 million for the second quarter of 2016, compared to a non-GAAP operating income of $10.5 million for the second quarter of 2015. Non-GAAP net loss, which excludes stock-based compensation expense, expense related to amortization of acquired intangible assets and non-GAAP income tax adjustments, was $0.3 million for the second quarter of 2016, or$0.00 per diluted common share, compared to a non-GAAP net income of $5.6 million, or$0.07 per diluted common share, for the second quarter of 2015.

Highlights

  • Announced new data analytics learning partnerships with Lynda.com, Pluralsight,Udacity and General Assembly to offer deeper training on Tableau’s products.
  • Expanded relationship with Informatica to leverage Informatica solutions to easily access and integrate data across any cloud or on-premise source and quickly cleanse and prepare the data for use in Tableau.
  • Dresner Advisory Services announced Tableau as a recipient of their 2016 Industry Excellence Awards for Technology Leader and Trust Leader in business intelligence.
  • 451 Research reaffirmed Tableau as a gold standard for visual analytics, recognizing investments in self-service data prep and advanced analytics. (Original Source)

Shares of Tableau Software are up over 3% to $58.20 in after-hours trading. DATA has a 1-year high of $109.40 and a 1-year low of $36.60. The stock’s 50-day moving average is $53.12 and its 200-day moving average is $51.63.

On the ratings front, Tableau has been the subject of a number of recent research reports. In a report released yesterday, Cowen analyst Derrick Wood reiterated a Hold rating on DATA, with a price target of $53, which represents a potential downside of 6% from where the stock is currently trading. Separately, on the same day, Brean Murray Carret’s Yun Kim reiterated a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Derrick Wood and Yun Kim have a total average return of -0.1% and 10.8% respectively. Wood has a success rate of 53.5% and is ranked #2729 out of 4008 analysts, while Kim has a success rate of 63% and is ranked #512.

Overall, one research analyst has rated the stock with a Sell rating, 8 research analysts have assigned a Hold rating and 10 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $60.11 which is 6.6% above where the stock opened today.

Tableau Software, Inc. is engaged in the provision of analytics and data visualization software. Its software products put the power of data into the hands of everyday people, allowing a broad population of business users to engage with their data, ask questions, solve problems and create value. The company makes five key products: Tableau Desktop, Tableau Server, Tableau Online, Tableau Reader and Tableau Public.