Why Talend Stock Rallied Today | The Motley Fool : vimarsana

Why Talend Stock Rallied Today | The Motley Fool


Author Bio
Evan is a senior technology specialist at The Motley Fool. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
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What happened
Shares of
Talend (NASDAQ:TLND) rallied today, closing out the day with gains of 11% after getting a bullish initiation from Wall Street. Craig-Hallum kicked off coverage of Talend with a buy rating alongside a price target of $55.
So what
Analyst Chad Bennett argues that Talend will benefit from the secular trends toward digital transformation and cloud migration as enterprise organizations continue to modernize operations. The tech company provides data integration services for a variety of sectors through its software platform. Companies need to connect numerous fragmented data sources with data stores, and Talend is an established leader in that market, according to Bennett. Craig-Hallum estimates that the combined market opportunity in 2020 is approximately $23 billion.

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