KeyBanc Believes Tableau (NYSE: DATA) Still Has Room to Grow

By Austin Angelo

KeyBanc analyst Brent Bracelin reiterated a Buy rating on Tableau (NYSE: DATA) yesterday and set a price target of $67. The company’s shares closed on Friday at $64.85, close to its 52-week high of $67.10.

Bracelin commented:

“We expect another quarter of mixed results based on a subscription model transition with a 27% y/y decline in perpetual license revenue partially offset by triple-digit growth in subscription license ARR bookings.”

According to TipRanks.com, Bracelin is a 5-star analyst with an average return of 14.6% and a 78.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Riverbed Technology, and Medidata Solutions.

Currently, the analyst consensus on Tableau is Moderate Buy and the average price target is $63.36, representing a -2.3% downside.

In a report issued on July 26, Stifel Nicolaus also reiterated a Buy rating on the stock with a $75 price target.

Based on Tableau’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $200 million and GAAP net loss of $54.65 million. In comparison, last year the company earned revenue of $199 million and had a GAAP net loss of $47.52 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Last month, Elliott Ren Jurgensen, a Director at DATA sold 8,000 shares for a total of $491,600.

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Tableau Software, Inc. engages in the provision of a software product which allows a broad population of business users to engage with data, ask questions, solve problems, and create value. Its product portfolio is comprised of tableau desktop, tableau server and tableau online.