Needham raises its Tableau target after earnings

|About: Tableau Software (DATA)|By:, SA News Editor

Needham maintains a Buy rating on Tableau Software (NYSE:DATA) and raises the target from $126 to $134.

Analyst Jack Andrews cites the roughly in-line Q3 revenue with ratable mix above the high end of the guidance and management’s FY19 ASC 6060 revenue guidance that implies 20% growth at the midpoint.

Andrews: “We believe DATA shares are poised to benefit from market growth, specific product catalysts, and the cloud transition.” 

Tableau Software shares are up 15.7% to $121.51.  

Previously: Tableau Software reports mixed Q3 (Nov. 6)

Previously: Tableau guides upside Q4 revenue, FY19 operating profit; DATA +6.7% (Nov. 7)

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