Tableau Software Analyst Roundup After Q3 Results

Tableau Software Inc. DATA reported Q3 financials Wednesday with strong results.

The stock spiked Thursday and was trading at $84.61 on Friday, up 0.38 percent.

Analysts had positive comments for the company.  Below are current analyst ratings and price targets.

Cantor - Buy, $130 price target

“Tableau delivered a strong 3Q:14 print, offered up a better-than-expected 4Q:14 outlook, and provided initial guidance for 2015 that calls for sales growth of 40 percent. Additionally, customer additions remained strong in 3Q:14, the company's international presence continues to expand at a rapid clip and the number of large-sized deals is growing, supporting our contention that Tableau is enjoying strong momentum in the market. Given this performance, we are boosting our 2015 revenue projection and raising our 12-month price target to $130.00 (from $122.00), as we believe the stock has attractive upside potential over the next 12 months.”

Pacific Crest - Outperform, $101 price target

“DATA is one of our highest conviction names to own into year-end, and we see multiple upside levers including: (1) the next Tableau software release, (2) Project Elastic, which expands reach into mobile analytics, (3) international expansion and (4) large enterprise adoption, especially further penetration of the Fortune 500, where less than 5 percent spend more than $1 million on Tableau.”

JMP - Market Outperform, $93 price target

“We continue to like Tableau because it has an ambitious vision to democratize one of the biggest areas of spending in enterprise IT-business analytics, it has a rapidly expanding customer base, and one of the fastest growth rates in our coverage universe. We raise our 2014 non-GAAP EPS estimate from ($0.01) to $0.24 versus consensus of ($0.02), raise our 2015 non-GAAP EPS estimate from $0.19 to $0.29 versus consensus of $0.18, and raise our 2016 non-GAAP EPS estimate from $0.48 to $0.61 versus consensus of $0.54.”

Morgan Stanley - Overweight, $89 price target

“Growth with profitability should keep shares moving higher. Sustaining 66 percent YoY license growth despite comps getting 25 percent points tougher in Q3, 68 percent YoY growth in deals >$100K and 65 percent+ growth in new customers adds all point to Tableau continuing to execute very well ahead of a large market opportunity. [We previously argued that] Tableau is less than 5 percent penetrated in even the most narrow view of the forward market opportunity, leaving plenty of runway for growth in the years ahead. Equally important, over 100 percent of the upside in revenues flowed thru to operating income in the quarter – pushing operating margins to 8.4 perent vs. consensus at (4.5 percent) and sending operating cash flow to $24.5M in Q3, almost 4X consensus expectations of $6.2M.”

Credit Suisse - Outperform, $100 price target

“We have become increasingly positive on Tableau's ability to sustain robust revenue growth based on (1) our positive opinion of Tableau's long-term corporate strategy and management's ability to execute its vision, (2) the company's unique and evolving technology platform that should position Tableau to expand the market for business intelligence software and continue to gain share, and (3) the revenue opportunities offered by increased international expansion and the introduction of Tableau Online.”