Market Overview

UPDATE: Stifel Nicolaus Downgrades Qlik Technologies to Hold on Product Readiness Headwinds

Related QLIK
Jefferies Initiates Coverage On Software Companies
Qlik And Intuit Partner To Deliver Robust Accounting Analytics Solutions
Making Money With Charles Payne: 10/29/14 (Fox Business)

Stifel Nicolaus downgraded Qlik Technologies (NASDAQ: QLIK) from Buy to Hold and removed its previous $32 price target

Stifel Nicolaus noted, "We feel fine about the 4Q numbers, but also feel the loss of growth momentum in recent quarters, alongside building customer and partner frustrations from our checks, could presage further bumps in the road. Our recent checks also leave us slightly uneasy as to the enterprise-readiness of the product today, and we believe that QlikView.next may yet be 2-3 quarters away from general availability. Given QLIK's "growthy" valuation of 3.8x 2013E EV/Sales and 30.3x 2013E EV/EBITDA, we see enough risks on the horizon for us to take a more cautious stance at this time."

Qlik Technologies closed at $21.06 on Wednesday.

Latest Ratings for QLIK

DateFirmActionFromTo
Dec 2014JefferiesMaintainsBuy
Nov 2014JefferiesInitiates Coverage onBuy
Nov 2014MacquarieInitiates Coverage onOutperform

View More Analyst Ratings for QLIK
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (QLIK)

Around the Web, We're Loving...

Get Benzinga's Newsletters