Cantor Fitzgerald Expects Solid Q3 Results For Tableau Software

In a report published Tuesday, Cantor Fitzgerald analyst Brian J. White reiterated a Buy rating and $122.00 price target on Tableau Software Inc (NYSE: DATA).

In the report, Cantor Fitzgerald noted, “This Wednesday evening (11/5), Tableau is scheduled to report its 3Q:14 results with a conference call at 4:30PM ET; the dial-in number is 855-592-5013 (passcode: 20155765). Given the positive data points we picked up during the 7th Annual Tableau Conference 2014 in September and upbeat feedback at other conferences (i.e., Big Data, cloud) over the past month, we believe Tableau has strong momentum in the Big Data world and the story still remains in the very early stages of development. At the same time, we are sensitive to the fact that the market did not reward Tableau's stock immediately following earnings reports over the past two quarters, despite results that we viewed as nothing short of outstanding. On both occasions, this reaction provided yet another attractive buying opportunity in Tableau as the stock closely sharply higher in the weeks that followed.”

Tableau Software closed on Tuesday at $81.30.