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Tableau Software Down Over 2% After Mizuho Downgrade

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Shares of Tableau Software Inc (NYSE: DATA) are down on Friday, after Wall Street research firm Mizuho Securities downgraded the stock from Buy to Neutral.

Despite the demotion, analysts Abhey Lamba and James Shaughnessy maintained a $100 price target.

The specialists explain that year-to-date, the stock has outperformed the broader market and sector by double-digits. So, while they continue to view Tableau as "the leader in an underpenetrated market of visual analytics," and think that the company can continue to deliver upside to consensus, they are moving to the sidelines as the stock seems to be appropriately priced.

Related Link: Mizuho: Apple Watch Won't Plug Pending iPhone Hole

In addition, they highlight that the first quarter "is usually the toughest quarter for software companies and high expectations could make things even tougher."

Mizuho concluded by highlighting a few points:

  • The management has a history of issuing conservative guidance and materially beating the high-end of its outlook.
  • However, this has created "lofty investor expectations that could lead to a challenging hurdle."
  • Much of the near-term upside is likely priced in the stock.

Latest Ratings for DATA

DateFirmActionFromTo
Aug 2017BarclaysMaintainsOverweight
Aug 2017BMO CapitalMaintainsMarket Perform
Aug 2017Deutsche BankMaintainsHold

View More Analyst Ratings for DATA
View the Latest Analyst Ratings

Posted-In: Abhey Lamba James Shaughnessy mizuhoAnalyst Color News Downgrades Analyst Ratings Movers

 

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