Tech Stocks Slipping in Afternoon Trade; Tableau Software Climbing After Q1 EPS, Revenue Beat Street Views


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Technology stocks were declining Tuesday, with shares of technology companies in the S&P 500 retreating about 0.5%.

In company news, Tableau Software ( DATA ) shares rallied Tuesday after the company late Monday reported Q1 per-share earnings and revenue that beat analyst expectations and raised its full-year revenue outlook above the Street view.

The enterprise software firm reported a net loss of $0.01 per share, improving on a $0.05 loss last year and beating the Capital IQ consensus by $0.10 per share. Revenue surged 86% year over year to $74.6 million, topping the Street view by $10.4 million.

DATA increased its forecast for FY14 revenue by $20 million over its prior guidance to a new range of $340 million to $350 million, topping analyst estimates by at least $12.56 million.

The company also is projecting a non-GAAP net loss in the current quarter of $0.09 to $0.01 per share on between $75 million to $80 million in revenue. Analysts, on average, are expecting DATA to produce a $0.09 per share loss during Q2 on $72.41 million in revenue.

DATA shares were up nearly 4% at $60.23 each this afternoon, earlier rising to a session high of $62.92 a share. The stock has a 52-week range of $44.00 to $102.37 a share.

In other sector news,

(+) PSMI, (+11.8%) Q1 revenue declines 11.4% from last year to $41.2 mln but beats Capital IQ consensus by $7.06 mln. Adjusted net loss of $0.24 per share was $0.02 wider than Street view.

(-) ININ, (-18.6%) Non-GAAP net loss of $0.02 per share lags Wall Street estimates looking for $0.01 per share profit. Revenue rises 8% year over year to $79.4 mln, trailing Capital IQ consensus by around $300,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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