UPDATE: Piper Jaffray Raises PT to $30 on TIBCO Software

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Piper Jaffray raises its price target to $30, up $1, on TIBCO Software (NASDAQ: TIBX) following slight upside to Q1 and inline guidance. Piper Jaffray says, "TIBCO expects Q2 (May) total revenue of $240-244M (+11% to +13%), the mid-point of which is essentially inline with the consensus of $242.2M (+12% y/y), and PF EPS of $0.22-0.23, slightly below consensus of $0.23. TIBCO guided Q2 license revenue to $91-95M (+11% to +16%), slightly ahead of consensus of $92.5M (+13% y/y)."TIBX closed at $32.45 a share on Thursday.

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