Mizuho Securities analyst Abhey Lamba reiterated a Neutral rating and lowered its price target on Tableau Software (NYSE: DATA) to $50.00 (from $55.00) following Q1 results.

Lamba commented, "Tableau reported better than expected 1Q16 results and rolled forward the upside to 2016 forecast. However, license revenue growth decelerated meaningfully. Additionally management indicated increased flexibility in pricing for large deals and reduction in its investment plans, both of which make sense but introduce n-t risks. We remain on the sidelines on potential risk to estimates. Maintaining Neutral rating and adjusting PT to $50 from $55."

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Shares of Tableau Software closed at $50.98 yesterday.