Why Tableau Software (DATA) Stock Is Up Today

NEW YORK (TheStreet) -- Tableau Software (DATA) was gaining 4% to $79.15 Tuesday after research firm Robert W Baird upgraded the software maker to "outperform" from "neutral."

Baird analyst Steven Ashley talked to Tableau partners and found that they believe the company has only "scratched the surface" of its opportunity. Ashley said the software company's potential market is much larger than industry experts believe.

Microsoft (MSFT) Excel, the software Tableau usually replaces, has 325 million corporate users according to the analyst. Fewer than 500,000 Tableau products are actively used, Ashley said.

While there is room for growth Ashley doesn't expect Tableau to report stronger-than-expected first-quarter results. The analyst anticipates strong, in-line results from the company.

Must read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

DATA Chart

DATA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

What to Do When Stocks Drop: Cramer's 'Mad Money' Recap (Tuesday 9/5/17)

Tableau Software: Cramer's Top Takeaways

Blame the Millennials: Cramer's 'Mad Money' Recap (Wednesday 8/9/17)

Tesla and Apple Better Deliver Big-Time or Look Out Below -- Week Ahead

When Stocks Fall and It's Not Their Fault: Cramer's 'Mad Money' Recap (Friday 7/28/17)