Teradata Corp. Downgraded by Credit Suisse to Neutral (TDC)
Teradata Corp. (NYSE:TDC) was downgraded by equities researchers at Credit Suisse from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $45.00 target price on the stock, down from their previous target price of $75.00. Credit Suisse’s price objective would suggest a potential upside of 4.87% from the company’s current price.
The analysts wrote, “Since Q3 2012, management has consistently noted a decline in larger deals, the number of deals, and average deal size, as customers had been running their EDWs “hotter,” which resulted in an extension of increased capacity purchases, and had shifted to buying in smaller increments. We had believed two of the main factors which drove these behaviors that negatively impacted Teradata’s product growth were beginning to abate, which underpinned our thesis that Teradata’s product revenue growth would meaningfully reaccelerate in the second half. Based on today’s pre-announced results, while the U.S. and Europe appear to have bottomed (suggesting that these two headwinds were indeed lessening for these regions), international revenue disappointed dramatically this quarter, and management’s guidance suggests no rebound during the December quarter.”
TDC has been the subject of a number of other recent research reports. Analysts at Mizuho cut their price target on shares of Teradata Corp. from $60.00 to $52.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Teradata Corp. in a research note to investors on Wednesday, September 18th. They now have a $75.00 price target on the stock. Finally, analysts at Longbow Research initiated coverage on shares of Teradata Corp. in a research note to investors on Thursday, August 29th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.83.
Teradata Corp. (NYSE:TDC) traded down 18.39% on Tuesday, hitting $42.91. 21,710,028 shares of the company’s stock traded hands. Teradata Corp. has a 52-week low of $48.11 and a 52-week high of $75.41. The stock’s 50-day moving average is $57.10 and its 200-day moving average is $56.10. The company has a market cap of $6.999 billion and a P/E ratio of 23.23.
Teradata Corp. (NYSE:TDC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.05. The company had revenue of $670.00 million for the quarter, compared to the consensus estimate of $670.70 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Teradata Corp. will post $3.05 EPS for the current fiscal year.
Teradata Corporation (NYSE:TDC) is engaged in analytic data solutions, including integrated data warehousing, big data analytics and business applications.
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