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UPDATE: Goldman Sachs Initiates Qlik Technologies at Neutral on Organic Slowdown

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Goldman Sachs initiated coverage on Qlik Technologies (NASDAQ: QLIK) with a Neutral rating.

Goldman Sachs noted, "While we believe QLIK's market opportunity is supportive of greater than 20% growth for a sustainable period, the recent slowdown in organic constant currency license growth (from 52% yoy in 3Q11 to 18% yoy in June) alongside the high European exposure (approximately 57% of revenues) keeps us on the sidelines for now. We believe consensus is achievable and see increasing success within larger enterprise as a potential for upside. We also expect QLIK to add capabilities (such as in-database analysis) in the coming future to better address the opportunity."

Qlik Technologies closed at $21.72 on Thursday.

Latest Ratings for QLIK

DateFirmActionFromTo
Jun 2016SunTrust Robinson HumphreyDowngradesBuyNeutral
Jun 2016CLSADowngradesBuyNeutral
Jun 2016RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for QLIK
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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