Cloudera (CLDR) Upgraded to “Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Cloudera (NYSE:CLDR) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat Ratings reports.

CLDR has been the subject of a number of other research reports. Wedbush began coverage on Cloudera in a report on Thursday, October 18th. They set a neutral rating and a $17.00 target price for the company. ValuEngine raised Cloudera from a hold rating to a buy rating in a report on Thursday, November 1st. UBS Group raised Cloudera from a neutral rating to a buy rating in a report on Friday. BTIG Research began coverage on Cloudera in a report on Wednesday, September 12th. They set a buy rating for the company. Finally, Nomura raised Cloudera from a reduce rating to a buy rating and lifted their target price for the stock from $12.00 to $23.00 in a report on Thursday, October 4th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Cloudera currently has a consensus rating of Buy and an average target price of $21.67.

Shares of Cloudera stock traded down $1.36 on Friday, reaching $12.79. 5,470,594 shares of the stock were exchanged, compared to its average volume of 3,146,243. Cloudera has a twelve month low of $12.57 and a twelve month high of $22.42. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -3.96 and a beta of 1.67.

Cloudera (NYSE:CLDR) last released its earnings results on Wednesday, September 5th. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. Cloudera had a negative return on equity of 58.05% and a negative net margin of 44.68%. The firm had revenue of $110.30 million during the quarter, compared to the consensus estimate of $107.68 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue was up 22.8% compared to the same quarter last year. On average, analysts expect that Cloudera will post -1.16 EPS for the current fiscal year.

In related news, insider Michael Olson sold 27,619 shares of Cloudera stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $14.74, for a total transaction of $407,104.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 165,714 shares of company stock valued at $2,623,805. 30.90% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. purchased a new position in Cloudera during the third quarter valued at approximately $125,000. IFP Advisors Inc raised its position in Cloudera by 641.5% during the third quarter. IFP Advisors Inc now owns 7,230 shares of the company’s stock valued at $128,000 after acquiring an additional 6,255 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Cloudera during the third quarter valued at approximately $140,000. Great West Life Assurance Co. Can purchased a new position in Cloudera during the second quarter valued at approximately $128,000. Finally, Principal Financial Group Inc. purchased a new position in Cloudera during the first quarter valued at approximately $220,000. Institutional investors own 72.49% of the company’s stock.

About Cloudera

Cloudera, Inc provides platform for machine learning and analytics in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. Its platform delivers an integrated suite of capabilities for data management, machine learning, and analytics to customers for transforming their businesses.

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Analyst Recommendations for Cloudera (NYSE:CLDR)

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