Analysts Cheer Another Impressive Quarter From Tableau Software

Tableau has received several price-target hikes post-earnings

May 3, 2018 at 10:24 AM
facebook twitter linkedin


Tech stock Tableau Software Inc (NYSE:DATA) burst out of the gate to a two-year high of $97.09, and was last seen trading up 8.9% at $92.78, thanks to the company's well-received earnings release. Adjusted earnings-per-share and revenue for the first quarter easily exceeded consensus estimates, while Tableau also announced an additional $300 million in stock buybacks.

There's been a flurry of analyst attention in response to the report, and it's all been bullish. Bernstein was by far the most ambitious of the bunch, boosting its price target to $124 from $107, representing territory not seen in almost three years, and a more than 38% premium to current levels. Citigroup and Barclays also set noteworthy price targets of $104 each.

Coming into today, however, most analysts in coverage were actually bearish on DATA shares, with 16 of 25 handing out "hold" or "strong sell" opinions. Considering the equity has been in an impressive uptrend since January 2017 -- not to mention today will mark the fifth time in six quarters the shares have rallied the day after earnings -- it wouldn't be surprising to see more of these bearish holdouts upwardly revise their outlooks on the security, potentially bringing more buyers to the table. 

Short sellers have been hitting the exits at a rapid pace, too. In fact, short interest is down more than 44% in 2018. Still, the 3.04 million Tableau Software shares sold short are almost five times the average daily trading volume, suggesting there's room for this short-covering trend to continue -- which would be a boon for the stock.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1