Tableau Software (DATA) Stock: Skyrocketing On CEO News

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Tableau Software Inc (NYSE: DATA)

Tableau Software is having an incredible day in the market today, and for good reason. The company announced that it has brought on a new CEO, and the guy taking the job is definitely qualified. Today, we’ll talk about the CEO news, how the market reacted to the news, and what we can expect to see from DATA moving forward. So, let’s get right to it…

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DATA Climbs On CEO News

As mentioned above, Tableau Software is having an incredibly strong trading session today, and for good reason. The company announced that it has brought a new CEO on board. That new CEO is Adam Selipsky. Based on Selipsky’s track record, it’s clear why investors are happy with the move.

In the past, Selipsky worked as a former executive at Amazon in the Amazon Web Services (AWS) department. During his tenure at AWS, Selipsky served as the Vice President of Sales, Marketing and Support for Amazon’s Cloud Computing Division. According to the news, Selipsky will take his position at DATA on September 16, stepping into the shoes of Co-Founder Christian Chabot. In a statement, the current CEO at the company had the following to offer:

His experience in making AWS the world’s leading cloud platform, his passion for servicing customers at a global scale, and his authentic player attitude make him an extraordinary fit for Tableau.”

This is a perfect time for Selipsky to come on board as well. After all, DATA is currently in the process of shifting its strategy. The goal of the shift is to focus its efforts are larger businesses and bigger deals. Some of the businesses the company is currently working with include Exxon Mobile and Kimberly-Clark.

How The Market Reacted To The News

As investors, one of the first things that we learn is that it’s important to keep a close eye on the news. After all, the news tends to move the market. When positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with the company. Adversely, when negative news is released, we can expect to see declines. In this particular case, Selipsky brings incredible amounts of industry experience to the table, and I can’t think of a better CEO for DATA. As a result, we’re seeing big gains in the value of the stock today. Currently (1:05), Tableau Software stock is trading at $62.21 per share after a gain of $7.34 per share (13.38%) thus far today.

What We Can Expect To See Moving Forward

Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from DATA stock. The company has built a name for itself in the world of enterprise software. On top of that, through his tenure at Amazon, Selipsky has proven himself as a leader that can generate results quickly. All in all, when we put the two together, I think we’re looking at a match made in heaven that will likely send the value of DATA stock skyward!

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What Do You Think?

Where do you think DATA is headed moving forward? Join the discussion at TalkTRENDZ!

[Image Courtesy of Pixabay]

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