Hortonworks, Inc. (HDP) Rating Reiterated by Needham & Company LLC
Hortonworks, Inc. (NASDAQ:HDP)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Sunday. They currently have a $25.00 target price on the software maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 48.90% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. ValuEngine upgraded Hortonworks from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Drexel Hamilton restated a “buy” rating and set a $21.00 price target on shares of Hortonworks in a report on Wednesday, June 14th. Cowen and Company restated a “market perform” rating and set a $14.00 price target (up previously from $11.00) on shares of Hortonworks in a report on Wednesday, August 9th. Zacks Investment Research downgraded Hortonworks from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, Craig Hallum assumed coverage on Hortonworks in a report on Monday, July 17th. They set a “buy” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Hortonworks has a consensus rating of “Buy” and an average price target of $18.21.
Shares of Hortonworks (HDP) opened at 16.79 on Friday. Hortonworks has a 52 week low of $6.42 and a 52 week high of $17.70. The firm’s market cap is $694.55 million. The stock has a 50 day moving average price of $15.04 and a 200 day moving average price of $12.41.
Hortonworks (NASDAQ:HDP) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.87) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.87). Hortonworks had a negative return on equity of 765.37% and a negative net margin of 107.07%. The company had revenue of $61.83 million for the quarter, compared to the consensus estimate of $57.62 million. During the same quarter in the previous year, the business earned ($0.72) EPS. Hortonworks’s revenue was up 41.6% compared to the same quarter last year. Equities analysts expect that Hortonworks will post ($1.72) earnings per share for the current year.
In other Hortonworks news, CFO Scott Davidson sold 42,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $12.51, for a total transaction of $526,183.11. Following the transaction, the chief financial officer now owns 668,651 shares in the company, valued at approximately $8,364,824.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shaun Connolly sold 66,664 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.06, for a total value of $1,070,623.84. Following the transaction, the insider now owns 418,579 shares in the company, valued at approximately $6,722,378.74. The disclosure for this sale can be found here. Insiders have sold a total of 284,324 shares of company stock worth $3,942,243 in the last quarter. Company insiders own 26.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Princeton Alpha Management LP bought a new stake in shares of Hortonworks in the 1st quarter worth approximately $110,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Hortonworks in the 1st quarter worth approximately $117,000. FNY Partners Fund LP bought a new stake in shares of Hortonworks in the 1st quarter worth approximately $117,000. ETF Managers Group LLC bought a new stake in shares of Hortonworks in the 2nd quarter worth approximately $125,000. Finally, Legal & General Group Plc boosted its position in shares of Hortonworks by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 11,149 shares of the software maker’s stock worth $144,000 after purchasing an additional 837 shares in the last quarter. 49.62% of the stock is currently owned by hedge funds and other institutional investors.
Hortonworks Company Profile
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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