Weakness Seen in Qlik Technologies (QLIK): Stock Tumbles 9.6%

Qlik Technologies, Inc. (QLIK) saw a big move last session, as the company’s shares fell by nearly 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for QLIK, as the stock is now down nearly 20% since April 1.

This user-driven business intelligence solution developer has seen a mixed track record when it comes to current year estimate revisions with no change over the past few weeks. However, the consensus for earnings has moved lower over the last 30 days. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

QLIK currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Business Software & Services industry include SYNNEX Corp. (SNX), Guidewire Software, Inc. (GWRE) and Accelrys Inc. (ACCL). Among these stocks, SYNNEX and Guidewire carry a Zacks Rank #1 (Strong Buy) and Accelrys carries a Zacks Rank #2 (Buy).

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