NEW YORK (TheStreet) -- Shares of Tableau Software (DATA) were gaining 8.4% to $104.89 after-hours Thursday after the software company beat analysts' estimates for earnings and revenue in the first quarter.
Tableau reported earnings of 8 cents a share for the first quarter, above analysts' estimates of a loss of 3 cents a share for the quarter. Revenue grew 73.6% year over year to $130.15 million for the quarter, beating analysts' estimates of $115.3 million.
The company added more than 2,600 new customers during the first quarter, ending the quarter with more than 29,000 customer accounts.
"Tableau's first quarter 2015 results were strong and demonstrate that the demand for Tableau continues to grow," CEO Christian Chabot said in a statement. "Tableau's ability to help people achieve more with data is resulting in an ever growing customer base."
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 a number of negative factors, 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. Among the areas we feel are negative, one of the most important has been premium valuation based on our review of its current price compared to such things as earnings and book value."