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Friday, May 17, 2013

DATA IPO - Tableau Software (DATA) Stock IPO Opens Strong - May 17, 2013

The Tableau Software (DATA) IPO opened up strong this morning, up around 50% to $48.  DATA stock opened for trading at $48, dropped to $44, and then raced to $50.  Tableau Software (DATA) is a fast growing company with revenue growth of 100% year over year since 2011.

Tableau Software (DATA) 2013 Price Target - $55-$65 per share

Tableau Software (DATA) has achieved significant growth in recent periods. For the years ended December 31, 2010, 2011 and 2012, our total revenues were $34.2 million, $62.4 million and $127.7 million, respectively, representing a compound annual growth rate of approximately 93% from 2010 to 2012. For the three months ended March 31, 2012 and 2013, our total revenues were $24.7 million and $40.0 million, respectively, representing a 62% growth over the same period of the prior year. We also generated net income of $2.7 million, $3.4 million and $1.4 million for the years ended December 31, 2010, 2011 and 2012, respectively, and have generated positive cash from operating activities on an annual basis in each of those fiscal years. Our net income (loss) for the three months ended March 31, 2012 and 2013 was $1.1 million and $(4.0) million, respectively, and we generated positive cash flow from operating activities in each of those fiscal quarters. We believe our land and expand business model provides financial visibility as aggregate revenues from subsequent sales of products and maintenance services to our customers have typically been multiples of the revenues we realized from those customers’ initial purchases.

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