Cloudera (CLDR) Stock Rating Lowered by Zacks Investment Research
Cloudera (NASDAQ:CLDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Cloudera, Inc. develops and distributes software for business data which include storage, access, management, analysis, security, search, processing and analysis applications. Its products include Cloudera Enterprise Data Hub, Cloudera Analytic BD, Cloudera Operational DB, Cloudera Data Science & Engineering and Cloud Essentials. Cloudera, Inc. is headquartered in Palo Alto, California. “
A number of other analysts also recently issued reports on the company. BidaskClub downgraded Cloudera from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Morgan Stanley increased their price objective on Cloudera from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $24.00 price objective on shares of Cloudera in a report on Friday, September 8th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $24.00 target price (up previously from $20.00) on shares of Cloudera in a research report on Friday, September 8th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Cloudera has a consensus rating of “Hold” and a consensus price target of $22.50.
Shares of Cloudera (CLDR) opened at 17.17 on Monday. The firm’s market capitalization is $2.26 billion. The company has a 50-day moving average of $18.10 and a 200-day moving average of $18.46. Cloudera has a 1-year low of $15.40 and a 1-year high of $23.35.
Cloudera (NASDAQ:CLDR) last posted its earnings results on Thursday, September 7th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.08. The business had revenue of $89.80 million during the quarter, compared to analysts’ expectations of $85.72 million. Cloudera’s revenue was up 39.2% compared to the same quarter last year. Equities research analysts predict that Cloudera will post ($0.93) EPS for the current fiscal year.
In related news, insider Greylock Xii Gp Llc sold 3,575,098 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.79, for a total value of $56,450,797.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors purchased a new position in shares of Cloudera during the second quarter worth about $131,000. Blume Capital Management Inc. acquired a new stake in shares of Cloudera during the second quarter worth about $135,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Cloudera during the second quarter worth about $172,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Cloudera during the second quarter worth about $190,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cloudera during the second quarter worth about $190,000.
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