[Seeking Alpha] Qlik Technologies Inc (NASDAQ:QLIK)(TREND ANALYSIS) Q1 is a growth investor’s dream, with a revenue beat, multiple analyst upgrades, and a looming catalyst in the back half.
QLIK looks like a strong momentum trade.
Longer-term, valuation concerns persist, and could increase if the stock does move in the near term.
Qlik Technologies (NASDAQ:QLIK) posted a solid Q1, showing impressive constant-currency growth which beat both guidance and analyst consensus. Shares rose nearly 5% on Friday, and seem poised to move to an all-time high:
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QLIK reported last quarter earnings on April 23. The Enterprise Software & Services company announced earnings per share of $-0.19 against a consensus Street estimate of $-0.21, beating the average estimate by $0.02. This corresponds to a decrease of $0.44 compared to the same quarter of the previous fiscal year.
Qlik Technologies Inc (NASDAQ:QLIK) is currently trading 2.57% below its 52-week-high, 74.57% above its 52-week-low. The 12-months range for the stock is $20.17 – $36.14. Qlik Technologies Inc (QLIK) has a price to book ratio of 10.7 versus Technology sector average of 2.72. QLIK stock price has outperformed the Nasdaq by 8.2%. The Enterprise Software & Services company is currently valued at $3.21 billion and its share price closed the last trading session at $35.21. The stock has a 50-day moving average of $32.86 and a 200-day moving average of $30.62.
Qlik Technologies Inc (QLIK) current short interest stands at 8.54 million shares. It has increased by 1% from the same period of last month. Around 10% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.16 million shares, the number of days required to cover the short positions stand at 7.4 days.
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There are currently thirty-one analysts that cover QLIK stock. Of those thirty-one, twenty have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $37.69.
A recent analyst activity consisted of SunTrust Robinson Humphrey who initiated their coverage on the stock with Buy rating on May 1. SunTrust Robinson Humphrey fixed their price target at $43. This corresponds to a 22.12% upside from the last closing price. On the date of report, the stock closed at $34.91.
Citigroup reiterated their Buy stance on April 24, and increased their price target on QLIK stock from $41 to $43. This corresponds to a 22.12% upside from the last closing price. On the date of report, the stock closed at $35.3.
Another research firm was Jefferies who reiterated their Buy stance on April 24. Jefferies increased their price target on Qlik Technologies Inc from $40 to $42. This translates to a 19.28% upside from the last closing price. On the date of report, the stock closed at $35.3.
Qlik Technologies Inc. develops business intelligence solutions. The Company’s software platform combines enterprise-class analytics and search functionality into a single platform.