Qlik Technologies (QLIK) : Analyst Rating Update

Qlik Technologies (QLIK) : 6 brokerage houses believe that Qlik Technologies (QLIK) is a Strong Buy at current levels. 16 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Qlik Technologies (QLIK). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 23 Wall Street Analysts endorse the stock as a Hold with a rating of 2.52.

Qlik Technologies (QLIK) : The highest level Qlik Technologies (QLIK) is projected to reach is $40 for the short term and the lowest estimate is at $30. The consolidated price target from 19 rating analysts who initiate coverage on the stock is $34.16 and the possibility the share price can swing is $3.6.

Qlik Technologies (NASDAQ:QLIK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.65 and $29.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.82, notching a gain of 0.40% for the day. The total traded volume was 2,732,822 . The stock had closed at $29.70 on the previous day.

Also, In a research note released to the investors, SunTrust Robinson Humphrey downgrades its rating on Qlik Technologies (NASDAQ:QLIK).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 6, 2016. The company shares have dropped -15.98% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $42.18 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $30.09 and the 200 Day Moving Average price is recorded at $27.74.

Qlik Technologies Inc. is a provider of user-driven, business intelligence (BI) solutions. The Company is engaged in the development, commercialization and implementation of software products and related services. The Companys core solution for guided analytics is QlikView, which allows people create and share insights and analysis in groups and across organizations. The Companys QlikView Desktop is a Windows application that enables the user to load data from disparate sources. QlikView Expressor provides a graphical studio for designing and managing data integration for QlikView apps. QlikView NPrinting is a report generation, distribution and scheduling application for QlikView. Qlik Sense is self-service data visualization and analysis application. Qlik Sense Desktop allows users to connect to any underlying data source, load data, build user interfaces and conduct interactive analyses of their data.

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