The Drexel Hamilton Downgrade Tableau Software Inc. (DATA) to Hold

The Drexel Hamilton Downgrade Tableau Software Inc. (DATA) to Hold

Tableau Software Inc. (NYSE:DATA) was downgraded by equities researchers at Drexel Hamilton from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also commented on the stock. Mizuho lowered their price objective on shares of Tableau Software from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 2nd. BMO Capital Markets lowered their price target on shares of Tableau Software from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 2nd. OTR Global lowered shares of Tableau Software to a “positive” rating in a research report on Friday, October 21st. Zacks Investment Research lowered shares of Tableau Software from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $65.00 price target (down previously from $70.00) on shares of Tableau Software in a research report on Friday, October 14th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $62.14.

Shares of Tableau Software (NYSE:DATA) traded up 0.34% during trading on Wednesday, reaching $47.02. 286,321 shares of the company traded hands. Tableau Software has a 12-month low of $36.60 and a 12-month high of $98.15. The stock’s market capitalization is $3.58 billion. The firm’s 50-day moving average is $47.49 and its 200-day moving average is $52.24.

Tableau Software (NYSE:DATA) last announced its quarterly earnings data on Tuesday, November 1st. The software company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. The business had revenue of $206.10 million for the quarter, compared to analyst estimates of $213.87 million. Tableau Software had a negative net margin of 21.14% and a negative return on equity of 21.72%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities analysts predict that Tableau Software will post $0.30 earnings per share for the current fiscal year.

In related news, insider Andrew Beers sold 7,500 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $47.13, for a total transaction of $353,475.00. Following the sale, the insider now directly owns 121,252 shares of the company’s stock, valued at approximately $5,714,606.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in DATA. Price T Rowe Associates Inc. MD increased its stake in shares of Tableau Software by 107.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,720,310 shares of the software company’s stock worth $537,242,000 after buying an additional 5,030,497 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of Tableau Software during the third quarter worth about $9,698,000. Matrix Capital Management Company LP bought a new stake in shares of Tableau Software during the third quarter worth about $302,603,000. D. E. Shaw & Co. Inc. increased its stake in shares of Tableau Software by 256.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 229,598 shares of the software company’s stock worth $12,690,000 after buying an additional 165,181 shares during the last quarter. Finally, Clinton Group Inc. bought a new stake in shares of Tableau Software during the third quarter worth about $8,032,000. 68.92% of the stock is currently owned by hedge funds and other institutional investors.

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