Why This Analyst Is Pounding The Table On Qlik Technologies

Courtesy of Benzinga.

• The share price of Qlik Technologies Inc (NASDAQ: QLIK) has declined 46.41 percent over the past six months, to a low of $21.21 on February 5.
• Brean Capital’s Yun Kim has maintained a Buy rating on the company, with a price target of $40.
• Kim believes all potentially negative news is already “more than fully reflected” in the share price.

Analyst Yun Kim mentioned checks suggest the company would report robust results for F4Q, “driven by continued market adoption of its Qlik Sense product and solid execution across all geographies.”

Kim also expects the company to report a sixth consecutive quarter of year-on-year increase in the number of large deals, over $1 million, “demonstrating its ability to execute on large deals.”

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Following the selloff in the stock on February 5, Kim also believes the risk/reward has turned favorable going into the earnings call on February 11 and stated that a “potential modest guide down is already fully reflected in the stock.”

According to the Brean Capital report, Qlik Technologies is possibly the best positioned to benefit from the current trends in data discovery/analytics, which is likely to be entering a mass market adoption stage.

“With QLIK having invested in upgrading its sales infrastructure over the past several years, we believe it is well positioned to grab a lion share of these large deal opportunities that are emerging,” the report added.

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