Cloudera (CLDR) Raised to Buy at Zacks Investment Research
Cloudera (NASDAQ:CLDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $19.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 16.49% from the company’s current price.
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. “
Several other research firms have also recently issued reports on CLDR. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $24.00 price target (up from $20.00) on shares of Cloudera in a report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price target on shares of Cloudera in a report on Friday, September 8th. Morgan Stanley reiterated an “equal weight” rating and set a $18.00 target price (down previously from $20.00) on shares of Cloudera in a research note on Thursday, July 20th. Finally, BidaskClub upgraded shares of Cloudera from a “hold” rating to a “buy” rating in a research note on Wednesday, August 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.50.
Cloudera (NASDAQ CLDR) traded down 2.92% on Tuesday, hitting $16.31. 1,138,574 shares of the company were exchanged. Cloudera has a 52-week low of $15.40 and a 52-week high of $23.35. The firm has a 50 day moving average of $18.04 and a 200-day moving average of $18.41. The stock’s market cap is $2.14 billion.
Cloudera (NASDAQ:CLDR) last posted its quarterly earnings results on Thursday, September 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.08. The company had revenue of $89.80 million during the quarter, compared to analyst estimates of $85.72 million. The firm’s revenue was up 39.2% compared to the same quarter last year. On average, equities analysts expect that Cloudera will post ($0.93) earnings per share for the current fiscal year.
In other Cloudera news, Director Ping Li sold 6,528,862 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.79, for a total transaction of $103,090,730.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Greylock Xii Gp Llc sold 3,575,098 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.79, for a total transaction of $56,450,797.42. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in CLDR. Peregrine Capital Management LLC bought a new position in shares of Cloudera during the second quarter worth about $12,932,000. Moloney Securities Asset Management LLC bought a new position in shares of Cloudera during the second quarter worth about $276,000. Spark Investment Management LLC bought a new position in shares of Cloudera during the second quarter worth about $1,036,000. Emerald Advisers Inc. PA bought a new position in shares of Cloudera during the second quarter worth about $5,706,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Cloudera during the second quarter worth about $4,648,000.
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