Morgan Stanley Lowers Tableau Software, Inc. (DATA) Price Target to $68.00

Tableau Software, Inc. (NYSE:DATA) had its target price cut by research analysts at Morgan Stanley from $71.00 to $68.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “equal weight” rating on the software company’s stock. Morgan Stanley’s target price suggests a potential downside of 8.85% from the stock’s current price.

A number of other equities analysts have also recently commented on DATA. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 target price (up from $65.00) on shares of Tableau Software in a report on Wednesday, August 9th. Barclays PLC reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $72.00) on shares of Tableau Software in a research note on Wednesday, August 9th. BMO Capital Markets lifted their price objective on Tableau Software from $64.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Drexel Hamilton reiterated a “hold” rating on shares of Tableau Software in a research note on Monday, October 30th. Finally, Jefferies Group LLC decreased their price objective on Tableau Software from $70.00 to $67.00 and set a “hold” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Tableau Software has a consensus rating of “Hold” and an average target price of $69.97.

Shares of Tableau Software (NYSE:DATA) traded down $7.57 during trading on Friday, reaching $74.60. The company had a trading volume of 6,713,811 shares, compared to its average volume of 644,154. Tableau Software has a 12 month low of $41.41 and a 12 month high of $82.32.

Tableau Software (NYSE:DATA) last announced its earnings results on Thursday, November 2nd. The software company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. Tableau Software had a negative return on equity of 20.72% and a negative net margin of 18.76%. The company had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $219.43 million. During the same period last year, the business posted $0.16 EPS. Tableau Software’s revenue for the quarter was up 4.3% on a year-over-year basis. equities analysts anticipate that Tableau Software will post -1.59 earnings per share for the current fiscal year.

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In other news, insider Adam Selipsky sold 3,200 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $72.28, for a total transaction of $231,296.00. Following the sale, the insider now directly owns 216,230 shares in the company, valued at approximately $15,629,104.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Christian Chabot sold 193,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $70.72, for a total value of $13,684,320.00. Following the sale, the chairman now owns 197,203 shares in the company, valued at $13,946,196.16. The disclosure for this sale can be found here. Insiders sold 1,160,559 shares of company stock valued at $81,744,364 in the last three months. 28.98% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC acquired a new stake in shares of Tableau Software during the 2nd quarter worth approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tableau Software by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,105 shares of the software company’s stock valued at $129,000 after acquiring an additional 231 shares during the period. BNP Paribas Arbitrage SA increased its position in Tableau Software by 164.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,266 shares of the software company’s stock valued at $139,000 after acquiring an additional 1,409 shares during the period. The Manufacturers Life Insurance Company increased its position in Tableau Software by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,287 shares of the software company’s stock valued at $140,000 after acquiring an additional 167 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Tableau Software in the 1st quarter valued at approximately $200,000. Institutional investors and hedge funds own 77.84% of the company’s stock.

Tableau Software Company Profile

Tableau Software, Inc (Tableau) offers software products. The Company’s products are used by people of diverse skill levels across all kinds of organizations. The Company’s products are used by people of skill levels across all kinds of organizations. Its technologies include visual query language (VizQL) and Hybrid Data Architecture.

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