Tableau Software, Inc. (NASDAQ: DATA)
Tableau Software, Inc. (DATA), a business analytic software company announced on Thursday positive third quarter 2015 financial results. Total Revenue was $170.8 million a 64% increase from third quarter 2014. License Revenue was 109.5 million a 57% increase from third quarter 2014.
Tableau Software, Inc. CEO Comments
“I am very pleased with Tableau’s performance this quarter. We continue to demonstrate solid business growth as more customers embrace the Tableau way of analytics with great enthusiasm and success,” said Christian Chabot, Chief Executive Officer of Tableau Software. “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.”
“We remain focused on product innovation and advancing our platform to bring even more value to our growing customer base,” continued Chabot. “At the Tableau Customer Conference last month, we demonstrated some of our newest innovations in visual analytics, data integration, data preparation, server administration, cloud and mobile, some of which are slated for Tableau 10 next year.” PR Newswire
DATA Technical Analysis
DATA gapped up in price Friday to $98.71, up from the prior day’s close of $84.39, which is a 17% increase on the favorable news. Taking a look at the daily chart, we can see the last time DATA traded above this price level was on August 21st, when it closed at $99.48. Taking a further look back on the chart we can see that DATA has been in an overall decline dating back to July 23rd when the stock was trading at its 52 week high of $131.34. The next possible resistance level for DATA would be the $107.50 level reached on August 14th, which was the peak of the last significant spike up. DATA does have a float of 50.80 million shares and is trading almost 2 times the normal daily trading volume. DATA did reach pre market highs of $99.79, but gave back $1.08 at the open , or equivalent to 1%. For trading purposes, my entry point would have been $98.85 looking for a pop through $100. My stop loss would have been $98.60, fearing anything below that and the stock would start to fill in the gap up.
Tableau Software, Inc., together with its subsidiaries, provides business analytics software products in the United States, Canada, and internationally. The company offers Tableau Desktop, a self-service analytics environment that empowers people to access and analyze data independently; and Tableau Server, a business intelligence platform with data management, scalability, and security to foster the sharing of data, as well as to improve the dissemination of information in an organization and promote enhanced decision-making. It also offers Tableau Online, a cloud-based hosted version of Tableau Server; and Tableau Public, a cloud-based platform that allows bloggers, journalists, researchers, and government workers to visualize public data on their Websites. In addition, the company provides related maintenance and support, and training and professional services. It offers its products and services to organizations in various industries, including business services, energy and telecommunications, financial services, Internet, life sciences and healthcare, manufacturing and technology, media and entertainment, public sector, education, retail, consumer, and distribution industries. The company sells its products directly, as well as through technology vendors, resellers, original equipment manufacturers, and independent software vendors. Tableau Software, Inc. was founded in 2003 and is headquartered in Seattle, Washington. Yahoo Finance