William Blair Reiterates Outperform on Teradata Following Preliminary 3Q Results

In a report published Tuesday, William Blair & Company analyst Bhavan Suri reiterated an Outperform rating on

. In the report, William Blair & Company noted, “Monday evening, Teradata released preliminary third quarter 2013 results that were well below the Street's expectations. The company highlighted that it noticed the majority of the weakness outside of the United States and Europe, which were up 8% and 13% respectively year-over-year. The Asia-Pacific and Japan markets witnessed significant weakness during the quarter, down 21% year-over-year. We believe that in addition to the weakness in the Asia-Pacific/Japan region, the company experienced a slowing business environment in Latin America, Eastern Europe, China, and Africa—largely the emerging and BRIC markets. While we were disappointed with the results, given the slowdown in these regions, it is not huge surprise that capex spending was muted in the period.” Teradata Corporation closed on Monday at $52.58.