Hortonworks, Inc. (HDP) Given “Buy” Rating at Drexel Hamilton
Drexel Hamilton restated their buy rating on shares of Hortonworks, Inc. (NASDAQ:HDP) in a research report report published on Monday morning. They currently have a $26.00 price objective on the software maker’s stock.
“We expect Hortonworks to provide more color around the revenue opportunity from IBM on its next earnings call; however, we have not reflected this transaction in our model. Essentially, IBM Open Platform customers (IOP) have approximately 18 months (from 6/17) to transition to Hortonworks with the company anticipating the vast majority to move over. We also see great potential in leveraging IBM’s go-to-market capabilities (especially overseas), combined with strengthening the Hortonworks platform.”,” Drexel Hamilton’s analyst commented.
A number of other brokerages also recently issued reports on HDP. Royal Bank Of Canada reaffirmed a buy rating and set a $20.00 price target on shares of Hortonworks in a report on Friday. Mizuho reaffirmed a hold rating and set a $14.00 price target on shares of Hortonworks in a report on Thursday, November 2nd. Northland Securities reaffirmed a buy rating and set a $24.00 price target on shares of Hortonworks in a report on Thursday, October 19th. BidaskClub downgraded Hortonworks from a buy rating to a hold rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research raised Hortonworks from a sell rating to a hold rating in a report on Wednesday, October 4th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Hortonworks currently has an average rating of Buy and a consensus price target of $19.50.
Hortonworks (NASDAQ:HDP) traded down $0.69 during trading on Monday, reaching $17.97. The company’s stock had a trading volume of 727,938 shares, compared to its average volume of 819,158. Hortonworks has a twelve month low of $7.80 and a twelve month high of $18.93.
Hortonworks (NASDAQ:HDP) last released its earnings results on Thursday, November 2nd. The software maker reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.16. Hortonworks had a negative return on equity of 765.37% and a negative net margin of 89.35%. The business had revenue of $69.00 million for the quarter, compared to the consensus estimate of $63.11 million. During the same period in the previous year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. sell-side analysts anticipate that Hortonworks will post -3.34 EPS for the current fiscal year.
In other Hortonworks news, CEO Robert G. Bearden sold 250,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $17.13, for a total value of $4,282,500.00. Following the completion of the sale, the chief executive officer now owns 341,747 shares in the company, valued at $5,854,126.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shaun Connolly sold 2,083 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $17.01, for a total value of $35,431.83. Following the completion of the sale, the insider now owns 387,412 shares of the company’s stock, valued at approximately $6,589,878.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 646,817 shares of company stock valued at $10,838,643. 22.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. purchased a new stake in Hortonworks in the first quarter worth about $117,000. ETF Managers Group LLC purchased a new stake in Hortonworks in the second quarter worth about $125,000. Legal & General Group Plc increased its position in Hortonworks by 8.1% in the second quarter. Legal & General Group Plc now owns 11,149 shares of the software maker’s stock worth $144,000 after buying an additional 837 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Hortonworks by 15.9% in the second quarter. UBS Asset Management Americas Inc. now owns 12,400 shares of the software maker’s stock worth $160,000 after buying an additional 1,700 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in Hortonworks in the second quarter worth about $170,000. Institutional investors and hedge funds own 50.13% of the company’s stock.
Hortonworks, Inc is a provider and distributor of enterprise-scale data management software platforms. The Company’s product offerings include Hortonworks Data Platform (HDP), Hortonworks Sandbox and Hortonworks DataFlow Platform (HDF). It provides support subscription offerings and related professional services for its enterprise-scale Connected Data Platforms, such as HDP and HDF.
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