Cloudera (NASDAQ:CLDR) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cloudera (NASDAQ:CLDR) from a hold rating to a sell rating in a report issued on Wednesday morning.

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. “

Other analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed an equal weight rating and set a $18.00 price target (down from $20.00) on shares of Cloudera in a research report on Thursday, July 20th. Bank of America Corporation assumed coverage on shares of Cloudera in a research report on Wednesday, May 24th. They set a neutral rating and a $23.00 price target for the company. JMP Securities assumed coverage on shares of Cloudera in a research report on Tuesday, May 23rd. They set a market perform rating for the company. Raymond James Financial, Inc. assumed coverage on shares of Cloudera in a research report on Tuesday, May 23rd. They set an outperform rating and a $23.00 price target for the company. Finally, Stifel Nicolaus assumed coverage on shares of Cloudera in a research report on Tuesday, May 23rd. They set a buy rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Cloudera has an average rating of Hold and a consensus price target of $22.86.

Cloudera (NASDAQ CLDR) traded up 1.42% on Wednesday, hitting $17.13. The stock had a trading volume of 225,261 shares. The company’s 50-day moving average price is $17.14 and its 200 day moving average price is $18.64. The firm’s market cap is $2.25 billion. Cloudera has a one year low of $15.40 and a one year high of $23.35.

Cloudera (NASDAQ:CLDR) last announced its quarterly earnings data on Thursday, June 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.09. The company had revenue of $79.60 million for the quarter, compared to analysts’ expectations of $75.85 million. Analysts expect that Cloudera will post ($1.05) earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new position in shares of Cloudera during the second quarter worth approximately $131,000. Blume Capital Management Inc. purchased a new position in shares of Cloudera during the second quarter worth approximately $135,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Cloudera during the second quarter worth approximately $190,000. New York State Common Retirement Fund purchased a new position in shares of Cloudera during the second quarter worth approximately $237,000. Finally, Rhumbline Advisers purchased a new position in shares of Cloudera during the second quarter worth approximately $267,000.

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