What happened
Shares of Talend (TLND), a provider of a software platform for integrating data and applications, jumped on Thursday. The stock rose as much as 26.6% and settled to a 16.8% gain as of 1 p.m. EST today.
The stock's gain follows Talend's strong fourth-quarter earnings report, which featured better-than-expected results. In addition, several analysts have raised their 12-month price targets on the stock in the wake of the tech company's robust earnings report.
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So what
Talend reported fourth-quarter revenue of $78.9 million, up 17% year over year. The company's adjusted loss per share was $0.10. On average, analysts were expecting revenue of $74.9 million and an adjusted loss per share of $0.30.
Talend's cloud annual recurring revenue was notably $108.5 million, up 101% year over year and 95% on a constant currency basis. Total customers crossed 6,000, with more than 4,250 being cloud customers.
Analysts at Barclays, Citi, and Craig-Hallum all raised their 12-month price targets for Talend following the report. Their new targets for the growth stock are $70, $72, and $66, respectively.
Now what
Management is optimistic about 2021, noting in its fourth-quarter earnings release that it believes it has "laid the foundation for the next phase in our transformation to a high-growth cloud company."
For the full year of 2021, Talend guided for revenue between $327 million and $329 million. This compares to 2020 revenue of about $260 million.
