Qlik Technologies (QLIK -3.5%) falls on a downgrade to Hold from Jefferies, which says checks...

|About: Qlik Technologies Inc. (QLIK)|By:, SA News Editor

Qlik Technologies (QLIK -3.5%) falls on a downgrade to Hold from Jefferies, which says checks indicate a soft Q2, lower growth for calendar 2012, and "increasing competitive pressures" - Qlik competes with IBM, SAP, Oracle, Microstrategy, and many others in the business intelligence software market. Though Qlik has underperformed as of late, Jefferies thinks there's still a growth premium built into its valuation (over 35x estimated 2013 EPS).