Tableau Software, Inc. (DATA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Tableau Software, Inc. (NYSE:DATA) from a buy rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Tableau Software, Inc. engages in providing analytics and data visualization software. The company offers Tableau Desktop, Tableau Server and Tableau Public. It also provides related maintenance and support, and professional and training services. The Company’s product helps a single user on a laptop analyze data from a simple spreadsheet, or to enable thousands of users across an enterprise to execute queries against databases. Tableau Software, Inc. is headquartered in Seattle, Washington. “

DATA has been the subject of a number of other reports. Sanford C. Bernstein initiated coverage on Tableau Software in a research note on Wednesday, May 24th. They set an outperform rating and a $79.00 price objective for the company. BTIG Research reiterated a buy rating and set a $65.00 price objective on shares of Tableau Software in a research note on Monday, May 15th. BidaskClub upgraded Tableau Software from a hold rating to a buy rating in a research note on Tuesday, August 1st. Bank of America Corporation boosted their price objective on Tableau Software from $72.00 to $76.00 and gave the company a buy rating in a research note on Tuesday, May 30th. Finally, Maxim Group reiterated a sell rating and set a $30.00 price objective on shares of Tableau Software in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Tableau Software has an average rating of Hold and an average price target of $64.82.

Shares of Tableau Software (NYSE:DATA) traded up 0.84% during midday trading on Thursday, hitting $72.85. 656,375 shares of the stock were exchanged. Tableau Software has a 52-week low of $41.41 and a 52-week high of $73.37. The firm’s 50 day moving average price is $69.35 and its 200-day moving average price is $60.01. The stock’s market cap is $5.76 billion.

Tableau Software (NYSE:DATA) last announced its quarterly earnings data on Wednesday, August 2nd. The software company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. The company had revenue of $212.90 million during the quarter, compared to the consensus estimate of $210.72 million. Tableau Software had a negative return on equity of 18.71% and a negative net margin of 17.08%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts expect that Tableau Software will post $0.22 earnings per share for the current fiscal year.

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In other Tableau Software news, Director William Bosworth sold 450 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $71.52, for a total value of $32,184.00. Following the transaction, the director now owns 9,099 shares of the company’s stock, valued at approximately $650,760.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 23,801 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $70.53, for a total value of $1,678,684.53. Following the completion of the transaction, the chief executive officer now directly owns 221,030 shares in the company, valued at approximately $15,589,245.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,160,559 shares of company stock worth $81,744,364 in the last 90 days. 28.98% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in DATA. BlackRock Inc. grew its position in Tableau Software by 35,180.2% in the 1st quarter. BlackRock Inc. now owns 2,452,329 shares of the software company’s stock valued at $121,514,000 after acquiring an additional 2,445,378 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Tableau Software in the 2nd quarter valued at $85,555,000. Renaissance Technologies LLC grew its position in Tableau Software by 131.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,703,500 shares of the software company’s stock valued at $84,408,000 after acquiring an additional 968,400 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tableau Software by 340.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,931 shares of the software company’s stock valued at $65,311,000 after acquiring an additional 824,067 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Tableau Software in the 1st quarter valued at $38,858,000. 78.00% of the stock is currently owned by institutional investors.

About Tableau Software

Tableau Software, Inc (Tableau) offers software products. The Company’s products are used by people of diverse skill levels across all kinds of organizations. The Company’s products are used by people of skill levels across all kinds of organizations. Its technologies include visual query language (VizQL) and Hybrid Data Architecture.

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