Tableau Software Inc (DATA) is a Revolutionary Company with Amazing Services: Charles Payne

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Tableau Software Inc (NYSE:DATA) is coming on the radars of stock pickers, owing to the potential of growth of the big data industry, in which the company operates. Tableau Software Inc (NYSE:DATA) is one of the first few companies that saw tremendous potential  in big data and made it their focus. The company specializes in data visualization, which involves creation and study of the visual representation of data. Even though Tableau Software Inc (NYSE:DATA)’s current earnings are pretty low, the Street expects it to improve gradually. Fox Business anchor Charles Payne recently discussed why he thinks that Tableau Software Inc (NYSE:DATA)’s stock will be a major winner in the future.

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“In the most recent quarter, their [Tableau Software Inc (NYSE:DATA)] revenues were up 82%, gains were strong, probably equally strong as licensing and maintenance. Net income $3.2 million, sounds like a small amount of money, but it was $300,000 a year earlier. Now, the company has those corny geek models like we analyze data fast easy, beautifully and usefully, but here is the bottom-line, this is a revolutionary company with amazing services […],”Payne said.

Payne feels that even though Tableau Software Inc (NYSE:DATA)’s stock fell drastically from its $100 levels high that it made earlier this year, it is now on the verge of a major breakout. According to Payne, it’s not unlikely that Tableau Software Inc (NYSE:DATA)’s stock can again grow to $100, but he still keeps his official price target on the stock at $87. He believes that Tableau Software Inc (NYSE:DATA)’s stock is good for short-term traders as well as for those, who can buy it for long-term, although he warned the viewers that the stock is extremely volatile hence one needs to buy it with caution.

 As of June 30, 2014, Julian Robertson‘s Tiger Management owns 348,000 shares in Tableau Software Inc (NYSE:DATA).

Disclosure: None

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