Qlik Technologies (QLIK) PT Raised to $40 at UBS
Get Alerts QLIK Hot Sheet
Rating Summary:
14 Buy, 21 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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UBS analyst Brent Thill reiterated a Buy rating and raised his price target on Qlik Technologies (NASDAQ: QLIK) to $40.00 (from $35.00).
Thill commented, "QLIK's $3M rev upside (ex. $1M FX tailwind not factored in 1Q16 guide) to St's $134M was generally a balanced beat, though we would have liked to see greater license outperformance (+12% y/y cc), especially considering this Q marked a 61% proportion for S&M spend, the highest since 1Q14. Though qualitative commentary suggests QLIK's dual product strategy is humming along – Qlik Sense gaining momentum, driving demand gen, and seeing greater participation in large deals with View – we believe pushback will remain on sales efficiency, especially considering QLIK has yet to witness (price) competition from aggressive and increasingly credible players like MSFT
Power BI. Yet, all things considered, 1Q's modest beat, combined with 2Q's guide above St and maintained FY16 revs guide of +15-17% ($9M optical raise fades out the prior ~2ppt negative FX impact), is likely to be perceived as a good (and conservative) enough start to the year, which sets the stock up well for beat-and-raises thru CY16, where activist/takeout speculation in press reports offers downside NT support for shares."
For an analyst ratings summary and ratings history on Qlik Technologies click here. For more ratings news on Qlik Technologies click here.
Shares of Qlik Technologies closed at $29.88 yesterday.
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