Does This Provide a Reason to Buy Tableau Software Inc (DATA)? The Stock Has Formed Wedge Up

September 17, 2017 - By Dolores Ford

Investors sentiment increased to 1.05 in 2016 Q4. Its up 0.10, from 0.95 in 2016Q3. It improved, as 32 investors sold Tableau Software Inc shares while 59 reduced holdings. 31 funds opened positions while 65 raised stakes. 54.34 million shares or 1.03% more from 53.78 million shares in 2016Q3 were reported.
Moreover, Fil has 0.1% invested in Tableau Software Inc (NYSE:DATA). Dupont owns 11,091 shares for 0.01% of their portfolio. Ameriprise Financial reported 713,063 shares stake. 74 were accumulated by Tradewinds Mngmt Limited. Hollencrest Llc holds 0.05% or 8,139 shares in its portfolio. Kcg has invested 0.04% in Tableau Software Inc (NYSE:DATA). Pictet Asset Management stated it has 148,100 shares. D E Shaw & Company Inc holds 11,566 shares or 0% of its portfolio. Voya Investment Mngmt Ltd Liability Com holds 0% of its portfolio in Tableau Software Inc (NYSE:DATA) for 22,987 shares. Sei Investments Communications reported 42,547 shares. Price T Rowe Assocs Md holds 0.09% of its portfolio in Tableau Software Inc (NYSE:DATA) for 11.18 million shares. Da Davidson & owns 22,374 shares or 0.02% of their US portfolio. Clinton Group Inc reported 0.37% of its portfolio in Tableau Software Inc (NYSE:DATA). Winfield Assocs invested in 0.06% or 2,265 shares. Moreover, State Board Of Administration Of Florida Retirement has 0.01% invested in Tableau Software Inc (NYSE:DATA).

The stock of Tableau Software Inc (DATA) formed an up wedge with $81.02 target or 8.00 % above today’s $75.02 share price. The 8 months wedge indicates low risk for the $5.93B company. If the $81.02 price target is reached, the company will be worth $474.40 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.28% or $0.21 on September 15, reaching $75.02. About 708,030 shares traded. Tableau Software Inc (NYSE:DATA) has risen 25.71% since September 17, 2016 and is uptrending. It has outperformed by 9.01% the S&P500.

Analysts await Tableau Software Inc (NYSE:DATA) to report earnings on November, 7. They expect $-0.37 earnings per share, up 7.50 % or $0.03 from last year’s $-0.4 per share. After $-0.54 actual earnings per share reported by Tableau Software Inc for the previous quarter, Wall Street now forecasts -31.48 % EPS growth.

Tableau Software Inc (NYSE:DATA) Ratings Coverage

Among 39 analysts covering Tableau Software (NYSE:DATA), 17 have Buy rating, 3 Sell and 19 Hold. Therefore 44% are positive. Tableau Software had 110 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was maintained by Deutsche Bank with “Buy” on Monday, August 17. Oppenheimer maintained Tableau Software Inc (NYSE:DATA) on Friday, May 26 with “Hold” rating. The firm earned “Hold” rating on Wednesday, August 2 by Jefferies. The stock of Tableau Software Inc (NYSE:DATA) earned “Outperform” rating by BMO Capital Markets on Thursday, May 4. The rating was downgraded by Morgan Stanley on Monday, February 8 to “Equal-Weight”. On Tuesday, January 12 the stock rating was initiated by Brean Capital with “Hold”. The rating was initiated by Macquarie Research with “Neutral” on Tuesday, April 26. On Thursday, August 25 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. The stock of Tableau Software Inc (NYSE:DATA) earned “Mixed” rating by OTR Global on Friday, October 21. The rating was maintained by Rosenblatt with “Buy” on Thursday, August 3.

More important recent Tableau Software Inc (NYSE:DATA) news were published by: Fool.com which released: “Why Tableau Software, Inc. Stock Rose 12.5% in August” on September 05, 2017, also Seekingalpha.com published article titled: “Tableau: Roaring Back To Life”, Businesswire.com published: “Glancy Prongay & Murray LLP Continues Investigation on Behalf of Tableau …” on September 15, 2017. More interesting news about Tableau Software Inc (NYSE:DATA) was released by: Globenewswire.com and their article: “TABLEAU ALERT: Rosen Law Firm Reminds Tableau Software, Inc. Investors of …” with publication date: September 13, 2017.

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