Tableau Software (DATA) Stock Rising on Earnings Beat
NEW YORK (TheStreet) -- Tableau Software (DATA) - Get Report stock is up by 21.93% to $102.90 in mid-morning trading on Friday, after the company's 2015 third quarter earnings results beat expectations.
After the market close on Thursday, the Seattle-based business intelligence software company reported adjusted earnings of 14 cents per share.
Revenue increased by 64% year over year to $170.8 million.
Analysts were expecting the company to report earnings of 7 cents per share on revenue of $157.61 million.
"We continue to demonstrate solid business growth as more customers embrace the Tableau way of analytics with great enthusiasm and success," Tableau CEO Christian Chabot said in a statement. "As a result, we had another record quarter of new customer wins. More than 3,100 new customer accounts were added in Q3, bringing the total to more than 35,000 worldwide."
Separately, TheStreet Ratings team rates TABLEAU SOFTWARE INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate TABLEAU SOFTWARE INC (DATA) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share.
You can view the full analysis from the report here: DATA
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