Qlik Technologies (NASDAQ: QLIK)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group in a report issued on Monday, AnalystRatingsNetwork reports. They currently have a $31.00 price target on the stock, up from their previous price target of $28.00. Jefferies Group’s price objective would suggest a potential downside of 3.58% from the company’s current price.
The analysts wrote, “We expect an-inline to slightly better 2Q13 from QLIK, given our recent field work, the comps and the support from large deals. We saw positive performance relative to plan (but less positive than 1Q13) and channel growth decelerated for 2Q13, while expectations for CY13 growth also moved lower. We are conscious that QLIK is facing its easiest comp of the year in 2Q13 and that large, direct deals can help. We maintain our HOLD.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Evercore Partners raised their price target on shares of Qlik Technologies from $32.00 to $34.00 in a research note to investors on Friday, June 7th. They now have an “overweight” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Qlik Technologies from $30.00 to $35.00 in a research note to investors on Thursday, June 6th. Finally, analysts at Drexel Hamilton downgraded shares of Qlik Technologies from a “buy” rating to a “hold” rating in a research note to investors on Thursday, May 30th. They now have a $30.00 price target on the stock. They noted that the move was a valuation call.
Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $31.65.
Shares of Qlik Technologies (NASDAQ: QLIK) traded down 2.89% during mid-day trading on Monday, hitting $31.22. Qlik Technologies has a one year low of $16.71 and a one year high of $32.33. The stock’s 50-day moving average is currently $29.54. The company’s market cap is $2.717 billion.
Qlik Technologies (NASDAQ: QLIK) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company had revenue of $96.50 million for the quarter, compared to the consensus estimate of $91.23 million. During the same quarter last year, the company posted ($0.03) earnings per share. Qlik Technologies’s revenue was up 21.9% compared to the same quarter last year. Qlik Technologies has set its Q2 guidance at ($0.02)-$0.00 EPS and its FY13 guidance at $0.41-0.44 EPS. Analysts expect that Qlik Technologies will post $0.42 EPS for the current fiscal year.
Qlik Technologies Inc (NASDAQ: QLIK) provides user-driven business intelligence (BI) solution that enables its customers.
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