Tableau Software Down Over 2% After Mizuho Downgrade

Shares of Tableau Software Inc DATA are down on Friday, after Wall Street research firm Mizuho Securities downgraded the stock from Buy to Neutral.
Despite the demotion, analysts Abhey Lamba and James Shaughnessy maintained a $100 price target.
The specialists explain that year-to-date, the stock has outperformed the broader market and sector by double-digits. So, while they continue to view Tableau as "the leader in an underpenetrated market of visual analytics," and think that the company can continue to deliver upside to consensus, they are moving to the sidelines as the stock seems to be appropriately priced.

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In addition, they highlight that the first quarter "is usually the toughest quarter for software companies and high expectations could make things even tougher."
Mizuho concluded by highlighting a few points:

• The management mas a history of issuing conservative guidance and materially beating the high-end of its outlook.
• However, this has created "lofty investor expectations that could lead to a challenging hurdle."
• Much of the near-term upside is likely priced in the stock.