Hortonworks’ (NASDAQ:HDP) “Buy” Rating Reiterated at Northland Securities
Hortonworks, Inc. (NASDAQ:HDP)‘s stock had its “buy” rating reissued by research analysts at Northland Securities in a research report issued on Monday. They presently have a $24.00 price target on the software maker’s stock. Northland Securities’ price target points to a potential upside of 80.18% from the company’s current price.
Several other brokerages have also weighed in on HDP. Mizuho lowered Hortonworks from a “buy” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $14.00 in a research report on Thursday, May 25th. Drexel Hamilton reaffirmed a “buy” rating and issued a $21.00 target price on shares of Hortonworks in a research report on Monday, May 15th. Wunderlich increased their target price on Hortonworks from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Hortonworks in a research report on Friday. Finally, Zacks Investment Research raised Hortonworks from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $16.17.
Hortonworks (NASDAQ:HDP) opened at 13.32 on Monday. Hortonworks has a 52 week low of $6.42 and a 52 week high of $14.07. The firm’s market capitalization is $551.01 million. The firm has a 50-day moving average of $12.97 and a 200 day moving average of $10.59.
Hortonworks (NASDAQ:HDP) last issued its earnings results on Thursday, May 4th. The software maker reported ($0.88) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.05. Hortonworks had a negative return on equity of 765.37% and a negative net margin of 120.94%. The firm had revenue of $55.97 million for the quarter, compared to analyst estimates of $52.21 million. During the same period last year, the company earned ($0.68) earnings per share. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. Analysts predict that Hortonworks will post ($1.81) earnings per share for the current year.
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In other news, insider Greg Pavlik sold 18,663 shares of the firm’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $10.56, for a total transaction of $197,081.28. Following the transaction, the insider now directly owns 354,630 shares of the company’s stock, valued at $3,744,892.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott Davidson sold 42,061 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $12.51, for a total value of $526,183.11. Following the transaction, the chief financial officer now directly owns 668,651 shares in the company, valued at $8,364,824.01. The disclosure for this sale can be found here. Insiders have sold 437,457 shares of company stock worth $5,466,747 over the last three months. Corporate insiders own 26.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Hortonworks by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,868,168 shares of the software maker’s stock valued at $28,137,000 after buying an additional 73,656 shares in the last quarter. Peregrine Capital Management LLC boosted its position in shares of Hortonworks by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 1,239,874 shares of the software maker’s stock valued at $12,076,000 after buying an additional 85,376 shares in the last quarter. State Street Corp boosted its position in shares of Hortonworks by 4.8% in the fourth quarter. State Street Corp now owns 663,216 shares of the software maker’s stock valued at $5,509,000 after buying an additional 30,180 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Hortonworks by 21.2% in the first quarter. Russell Investments Group Ltd. now owns 577,824 shares of the software maker’s stock valued at $5,668,000 after buying an additional 100,953 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Hortonworks by 20.2% in the first quarter. Geode Capital Management LLC now owns 364,550 shares of the software maker’s stock valued at $3,576,000 after buying an additional 61,286 shares in the last quarter. 49.78% of the stock is currently owned by institutional investors.
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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