While LinkedIn is the bigger and more notable of the two companies that reported on Thursday, analysts said comments from Tableau are punishing the broader market. Christian Chabot, CEO of the data visualization software company, warned of "some softness in spending, especially in North America."
Tableau forecast first-quarter revenue of $160 to $165 million, trailing the $179.5 million average analyst estimate, according to Thomson Reuters. Prior to Friday, Tableau was up 164 percent from its 2013 IPO. Now it's up only 37 percent.
"This is the first time we have heard a high-quality enterprise software name cite a slowdown in I.T. spending," said Matthew Hedberg, an analyst at RBC Capital Markets who has a buy rating on the stock. "There is a belief among investors that this could foreshadow other high multiple names getting nailed in the first quarter."