Wedbush Securities Remains Optimistic on Qlik Technologies

In a report published Friday, Wedbush Securities analyst Steve Koenig reiterated an Outperform rating and $37.00 price target on

. In the report, Wedbush Securities noted, "QLIK posted a solid 4Q, with a $3M revenue beat driven by strong growth in Europe (+19% Y/Y in constant currency) and Asia-Pacific (+76%). Americas grew 10% Y/Y, trailing other regions due to execution variability and perhaps also due to Tableau's (DATA, OUTPERFORM) relative strength in the region. 4Q revenue results were pretty much in line with our above-consensus expectations, and EPS was ahead of our estimate and consensus on good cost control relative to guidance. Large deal metrics showed good growth, including 9 deals over $1M (up from 7 in 4Q13)." Qlik Technologies closed on Thursday at $30.08.