Maxim Group analyst Nehal Chokshi reiterated a Hold rating on Tableau (NYSE: DATA) today and set a price target of $102. The company’s shares closed yesterday at $85.18, close to its 52-week high of $87.60.
Chokshi observed:
“Implied billings accelerate to 31% y/y growth, which is impressive when considering metric includes headwind of rapid transition to subscription model. Guidance implies billings growth will recede to 20% y/y growth, which is likely conservative, in our view. Raising 12-month price target to $102, from $88 as we raise our billings estimate across the board by 10+% Despite the impressive results, we reiterate our Hold rating given the lurking threat of Microsoft’s BI (MSFT – NR), and in our opinion, the shares are fairly valued.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 15.2% and a 62.1% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Pure Storage Inc.
Currently, the analyst consensus on Tableau is Moderate Buy and the average price target is $95.14, representing an 11.7% upside.
In a report released yesterday, MUFG Securities Americas Inc also upgraded the stock to Hold with a $80 price target.
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Based on Tableau’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $249 million and GAAP net loss of $41.84 million. In comparison, last year the company earned revenue of $200 million and had a GAAP net loss of $54.65 million.
Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2018, Elliott Ren Jurgensen, a Director at DATA sold 4,000 shares for a total of $330,800.
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Tableau Software, Inc. engages in the provision of software product which allows a broad population of business users to engage with data, ask questions, solve problems, and create value. Its product portfolio comprises of tableau desktop, server, and online.
