Hortonworks’ (HDP) “Buy” Rating Reiterated at Drexel Hamilton

Hortonworks Inc (NASDAQ:HDP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Drexel Hamilton in a note issued to investors on Monday. They currently have a $26.00 price objective on the software maker’s stock. Drexel Hamilton’s price objective indicates a potential upside of 40.01% from the stock’s previous close.

The analysts wrote, “We expect Hortonworks to provide more color around the revenue opportunity from IBM on its next earnings call; however, we have not reflected this transaction in our model. Essentially, IBM Open Platform customers (IOP) have approximately 18 months (from 6/17) to transition to Hortonworks with the company anticipating the vast majority to move over. We also see great potential in leveraging IBM’s go-to-market capabilities (especially overseas), combined with strengthening the Hortonworks platform.””

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Hortonworks from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, July 20th. BidaskClub raised Hortonworks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Craig Hallum initiated coverage on Hortonworks in a research report on Monday, July 17th. They set a “buy” rating and a $23.00 price objective for the company. Northland Securities reissued a “buy” rating and set a $24.00 price objective on shares of Hortonworks in a research report on Monday, July 17th. Finally, Needham & Company LLC initiated coverage on Hortonworks in a research report on Tuesday, July 25th. They set a “buy” rating and a $25.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Hortonworks has an average rating of “Buy” and a consensus price target of $19.50.

Shares of Hortonworks (HDP) traded up $0.24 during trading on Monday, hitting $18.57. The stock had a trading volume of 927,988 shares, compared to its average volume of 873,569.

Hortonworks (NASDAQ:HDP) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.16. The business had revenue of $69.00 million during the quarter, compared to analyst estimates of $63.11 million. The business’s quarterly revenue was up 45.3% on a year-over-year basis. During the same period last year, the business earned ($0.68) EPS. equities research analysts predict that Hortonworks will post -3.34 earnings per share for the current fiscal year.

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In other news, insider Shaun Connolly sold 66,664 shares of Hortonworks stock in a transaction dated 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 directly owns 418,579 shares in the company, valued at $6,722,378.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Bearden sold 250,000 shares of Hortonworks stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $17.13, for a total value of $4,282,500.00. Following the completion of the transaction, 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 656,817 shares of company stock valued at $10,988,643 in the last ninety days. Insiders own 22.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Hortonworks by 13.6% in the second quarter. Vanguard Group Inc. now owns 3,257,682 shares of the software maker’s stock worth $41,959,000 after purchasing an additional 389,514 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Hortonworks by 71.4% in the second quarter. Russell Investments Group Ltd. now owns 990,363 shares of the software maker’s stock worth $12,756,000 after purchasing an additional 412,539 shares during the period. ARK Investment Management LLC increased its stake in shares of Hortonworks by 5.9% in the second quarter. ARK Investment Management LLC now owns 837,483 shares of the software maker’s stock worth $10,787,000 after purchasing an additional 46,391 shares during the period. State Street Corp increased its stake in shares of Hortonworks by 8.8% in the second quarter. State Street Corp now owns 779,256 shares of the software maker’s stock worth $10,036,000 after purchasing an additional 62,903 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Hortonworks by 885.5% in the second quarter. Nikko Asset Management Americas Inc. now owns 674,100 shares of the software maker’s stock worth $8,682,000 after purchasing an additional 605,700 shares during the period. Institutional investors and hedge funds own 50.13% of the company’s stock.

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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