Cloudera (NYSE:CLDR) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Cloudera (NYSE:CLDR) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $13.00 price target on the stock.
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. “
Other equities analysts also recently issued reports about the company. ValuEngine upgraded Cloudera from a hold rating to a buy rating in a research report on Friday, May 1st. Morgan Stanley upgraded Cloudera from an equal weight rating to an overweight rating and lifted their target price for the company from $8.00 to $14.00 in a research report on Wednesday. Wedbush reiterated a hold rating and set a $12.00 target price on shares of Cloudera in a research report on Wednesday, March 11th. Needham & Company LLC reiterated a hold rating on shares of Cloudera in a research report on Wednesday, March 11th. Finally, Barclays lowered their target price on Cloudera from $13.00 to $10.00 and set an equal weight rating on the stock in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $12.00.
Cloudera (NYSE:CLDR) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.20. Cloudera had a negative return on equity of 14.57% and a negative net margin of 35.67%. The company had revenue of $210.46 million during the quarter, compared to analyst estimates of $204.65 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Cloudera’s revenue was up 12.3% compared to the same quarter last year. On average, research analysts predict that Cloudera will post -0.3 EPS for the current year.
In other news, insider Arun Murthy sold 6,673 shares of Cloudera stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $6.88, for a total value of $45,910.24. Following the sale, the insider now directly owns 757,995 shares of the company’s stock, valued at $5,215,005.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Scott Reasoner sold 6,230 shares of Cloudera stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $7.57, for a total value of $47,161.10. Following the completion of the sale, the chief accounting officer now directly owns 88,017 shares in the company, valued at $666,288.69. The disclosure for this sale can be found here. Insiders sold 1,260,056 shares of company stock worth $11,073,607 over the last 90 days. Company insiders own 16.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Formidable Asset Management LLC bought a new stake in Cloudera during the first quarter worth approximately $88,000. The Manufacturers Life Insurance Company increased its stake in Cloudera by 441.2% during the first quarter. The Manufacturers Life Insurance Company now owns 768,740 shares of the company’s stock worth $6,050,000 after acquiring an additional 626,696 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Cloudera during the first quarter worth approximately $1,605,000. Advisor Group Holdings Inc. bought a new stake in Cloudera during the first quarter worth approximately $128,000. Finally, AQR Capital Management LLC bought a new stake in Cloudera during the first quarter worth approximately $431,000. 74.05% of the stock is currently owned by hedge funds and other institutional investors.
Cloudera, Inc provides a suite of data analytics and management products in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. It offers Cloudera Enterprise Data Hub that allows companies to execute various analytic functions against a shared set of governed and secures data in public and private clouds, and data centers; Cloudera Data Warehouse, a hybrid cloud solution for self-service analytics; Cloudera Data Science and Engineering enables users to streamline, simplify, and scale big data processing; and Cloudera Operational DB that enables stream processing and real-time analytics on continuously changing data.
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