Shares of Tableau Software are moving lower after Cowen analyst J. Derrick Wood predicted the company could announce "materially" lower guidance when reporting quarterly results on May 3. The analyst's channel checks indicate that Tableau may be moving the majority of its go-to-market focus to ratable subscription sales, including term-based pricing for on-premise deployments, as well as subscription-based pricing for cloud deployments. Such a move would have the effect of significantly reducing up-front revenue recognition, Wood told investors earlier today in a research note. Tableau, as a result, could "materially lower guidance" on both revenue and earnings for 2017 when reporting on May 3, the analyst contends. Wood currently models for 7% revenue growth in FY17, compared to Tableau's guidance of 3%-9% growth. Wood adds, though, that some investors may like to see a quicker build-up in recurring revenue. He has a Market Perform rating on Tableau with a $53 price target. Amid today's overall market rally, the stock is down 85c, or 2%, or $53.24.