Jim Cramer -- Tableau Not a Target for Salesforce

Last month, Colin Powell, a Salesforce (CRM) board member, had his email hacked. As a result, a list of potential M&A targets for the company was made public. 

One name on the list was Tableau Software (DATA) , which reported earnings on Tuesday. 

It was a disappointing quarter, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. Management even admitted as much on the conference call, Cramer said.

Furthermore, Tableau is not a potential acquisition target for Salesforce at this time, Cramer added. 

Shares are now down more than 11% Wednesday. The M&A catalyst has been removed, and while Tableau beat on earnings-per-share estimates, its sales results missed expectations. 

Simply put, the company didn't close enough deals during the quarter to make the results compelling. It was a letdown, Cramer concluded. 

Tableau Software was also downgraded at William Blair

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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