Tibco Software (TIBX) shares are crashing back down to earth today as the cloud company saw Q1 earnings fall 54%. The firm said that execution problems were mainly to blame. This is coming off the back of ORCL yesterday blaming their sales force for their respective miss. TIBX shares are roughly down 17% today as a result of the news.
From the prospective of technicals, $18.55 is a level of interest. This support area has been the bottom of two recent lows and may prove again to be an area where buyers come in. Wedbush maintained an outperform on TIBX, but lowered its PT to $25.
