UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Qlik Technologies After Strong 4Q
In a report published Friday, Goldman Sachs reiterated its Buy rating on Qlik Technologies (NASDAQ: QLIK), and raised its price target from $27.00 to $31.00.
Goldman Sachs noted, “Qlik reported 4Q12 revenues of $137.5 mn and non-GAAP EPS of $0.25 vs. our estimates of $127.5 mn and $0.23. License revenues of $93.5 mn (+24% yoy) beat our $88 mn estimate as enterprise deals came in strong (i.e., 52 deals greater than $250k vs. 35 a year ago). We increase our FY13/FY13/FY14 non-GAAP EPS estimates to $0.39/$0.54/$0.74 from $0.30/$0.43/$0.62 as a result of revised margin and revenue projections.”
Qlik Technologies closed on Thursday at $22.76.
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Tags: Goldman Sachs