Tableau, on weaker outlook, down 49% today; sparks tech sector slump
Tom Paine
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I don't usually report on stock movements.
But Qlik competitor Tableau (NYSE: DATA) saw the bottom drop out this morning after an earnings report yesterday that concerned some and a disappointing outlook going into 2016.
Its shares are down 49% so far today.
Tableau’s outlook for the current quarter missed Wall Street views, and its revenue for Q4 2015 met expectations but disappointed some.
“We have data and have heard anecdotally that the Tableau solution is the most expensive in the market when compared with” products from rivals Microsoft (MSFT) and Qlik Technologies (QLIK.), Summit Research analyst Srini Nandury told Investor's Business Daily. Some also mentioned an impact from Amazon.com’s AWS QuickSight.
Q4 revenue rose 42% to $202.8 million. Tableau's net (GAAP) loss of 57 cents a share was influenced by a negative tax adjustment.
One might say that Tableau's results don't look too bad, but momentum stocks pay a heavy price when the expectations bubble bursts. I don't have the time, but someone could do a great dataviz of recent Tableau price movements.
QLIK is down 15% today.
Update 3:40pm: Tableau seems to be dragging the whole tech sector down.
The Nasdaq Bloodbath Led by LinkedIn, Tableau (Wall Street Journal: MoneyBeat)
Tableau finished the day down 49.5%, Qlik 15%.
