CLSA Downgrades Qlik Technologies Inc to Neutral

Brokerage firm CLSA Downgrades its rating on Qlik Technologies Inc(NASDAQ:QLIK). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by CLSA was issued on Jun 6, 2016.

In a different note, On Jun 6, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Neutral’ by the firm. On Jun 3, 2016, RBC Capital said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Sector Perform’ by the firm. On Jun 3, 2016, DA Davidson said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Neutral’ by the firm. On Jun 3, 2016, Citigroup said it Maintains its rating on Qlik Technologies Inc. In the research note, the firm Lowers the price-target to $31.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 2, 2016, Macquarie said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Neutral’ by the firm. On Jun 2, 2016, William Blair said it Downgrades its rating on Qlik Technologies Inc. The shares have been rated ‘Market Perform’ by the firm.

Qlik Technologies Inc (QLIK) shares turned negative on Fridays trading session with the shares closing down -0.06 points or -0.20% at a volume of 77,88,302. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.14. The peak price level was also seen at $30.14 while the days lowest was $29.98. Finally the shares closed at $30. The 52-week high of the shares is $42.9 while the 52-week low is $15.77. According to the latest information available, the market cap of the company is $2,819 M.

Qlik Technologies Inc(QLIK) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $138.03M. Analysts had an estimated revenue of $134.42M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.12.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Eugene Jackson (Chief Marketing Officer) sold 12,500 shares at $30.20 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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