Tableau Software added to STI Next Wave Portfolio

[from today’s Portfolio Update in Smart Tech Investor]

I am adding Tableau Software (DATA) to the Next Wave Portfolio because it’s one of the key beneficiaries of the shifting BI market. Tableau’s analytics software for data visualization is increasingly being implemented across all sizes of organizations. The company’s customer addition momentum tells the story, with more than 3,000 new accounts brought on in the latest quarter, up from 2,600+ adds in the March quarter. Tableau now has more than 32,000 customers worldwide. Tableau shares at the July high had sported a big gain for the year, but are now virtually unchanged. With the stock’s sharp retreat to the mid-$80s, the risk/reward balance has become more favorable.
Tableau Software is a ‘Buy’ in the Next Wave Portfolio up to $92 with a Stop price of $72.

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