Hortonworks, Inc. (HDP) Stock Rating Reaffirmed by Royal Bank Of Canada
Hortonworks, Inc. (NASDAQ:HDP)‘s stock had its “buy” rating reaffirmed by Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $20.00 target price on the software maker’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 9.11% from the company’s current price.
Several other brokerages also recently commented on HDP. Zacks Investment Research raised Hortonworks from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, July 20th. Credit Suisse Group initiated coverage on Hortonworks in a research note on Tuesday, September 5th. They set an “outperform” rating and a $20.00 target price for the company. Needham & Company LLC initiated coverage on Hortonworks in a research note on Tuesday, July 25th. They set a “buy” rating and a $25.00 target price for the company. Drexel Hamilton reissued a “buy” rating and set a $21.00 target price on shares of Hortonworks in a research note on Saturday, July 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $21.00 target price on shares of Hortonworks in a research note on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.21.
Shares of Hortonworks (NASDAQ HDP) traded up $1.79 during trading on Friday, hitting $18.33. 2,892,257 shares of the stock were exchanged, compared to its average volume of 761,225.
Hortonworks (NASDAQ:HDP) last announced its earnings results on Thursday, November 2nd. The software maker reported ($0.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.16. Hortonworks had a negative net margin of 89.35% and a negative return on equity of 765.37%. The company had revenue of $69.00 million during the quarter, compared to analysts’ expectations of $63.11 million. During the same quarter in the previous year, the business posted ($0.68) earnings per share. Hortonworks’s quarterly revenue was up 45.3% on a year-over-year basis. equities analysts anticipate that Hortonworks will post -3.34 earnings per share for the current fiscal year.
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In related news, insider Scott E. Gnau sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 351,070 shares in the company, valued at $5,266,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Bearden sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were 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 disclosure for this sale can be found here. Insiders sold 662,072 shares of company stock valued at $11,067,468 in the last ninety days. 22.50% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in HDP. Essex Investment Management Co. LLC bought a new stake in Hortonworks in the fourth quarter valued at approximately $3,825,000. Stoneridge Investment Partners LLC bought a new stake in Hortonworks in the fourth quarter valued at approximately $3,376,000. New York State Common Retirement Fund boosted its holdings in Hortonworks by 243.9% in the fourth quarter. New York State Common Retirement Fund now owns 125,992 shares of the software maker’s stock valued at $2,759,000 after acquiring an additional 89,353 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Hortonworks by 21.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 460,000 shares of the software maker’s stock valued at $10,074,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Alta Park Capital LP bought a new stake in Hortonworks in the fourth quarter valued at approximately $2,190,000. Institutional investors and hedge funds own 50.25% 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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