Citigroup Downgrades Qlik Technologies Inc to Neutral with Price Target $30.00

Brokerage firm Citigroup Downgrades its rating on Qlik Technologies Inc(NASDAQ:QLIK). In a research note issued to the investors, the brokerage major Raises the price-target to $30.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Apr 11, 2016.

In a different note, On Mar 28, 2016, Mitsubishi UFJ said it Maintains its rating on Qlik Technologies Inc. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Overweight’ by the firm. On Mar 23, 2016, OTR Global said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Mixed’ by the firm. On Mar 21, 2016, Pacific Crest said it Upgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Overweight’ by the firm. On Mar 18, 2016, Goldman Sachs said it Maintains its rating on Qlik Technologies Inc. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Buy’ by the firm. BMO Capital said it Initiates Coverage on Qlik Technologies Inc, according to a research note issued on Mar 4, 2016. The shares have been rated ‘Market Perform’ by the firm. On Mar 4, 2016, Mizuho Securities said it Maintains its rating on Qlik Technologies Inc. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Buy’ by the firm.

Qlik Technologies Inc (QLIK) made into the market gainers list on Fridays trading session with the shares advancing 0.36% or 0.1 points. Due to strong positive momentum, the stock ended at $28.23, which is also near the day’s high of $28.29. The stock began the session at $28.07 and the volume stood at 15,14,719 shares. The 52-week high of the shares is $42.9 and the 52 week low is $15.77. The company has a current market capitalization of $2,632 M and it has 9,32,27,755 shares in outstanding.

Qlik Technologies Inc(QLIK) last announced its earnings results on Feb 11, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $205.47M. Analysts had an estimated revenue of $208.07M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Apr 5, 2016, Eugene Jackson (Chief Marketing Officer) sold 4,000 shares at $30.00 per share price.Also, On Nov 10, 2015, Lars Bjork (CEO and President) sold 858 shares at $32.13 per share price.On Nov 10, 2015, Anthony Deighton (CTO and SVP, Products) sold 726 shares at $32.49 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s core solution for guided analytics is QlikView which allows people create and share insights and analysis in groups and across organizations. The Company’s 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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