Hortonworks (NASDAQ:HDP) Research Coverage Started at DA Davidson

DA Davidson assumed coverage on shares of Hortonworks (NASDAQ:HDP) in a report issued on Friday, March 9th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $24.00 target price on the software maker’s stock.

Several other analysts have also recently issued reports on HDP. BidaskClub cut Hortonworks from a buy rating to a hold rating in a research report on Tuesday, January 9th. Zacks Investment Research cut Hortonworks from a buy rating to a hold rating in a report on Wednesday, January 3rd. ValuEngine raised Hortonworks from a sell rating to a hold rating in a research note on Friday, February 2nd. Royal Bank of Canada reaffirmed a buy rating and issued a $23.00 price objective on shares of Hortonworks in a research note on Wednesday, December 20th. Finally, Mizuho reissued a buy rating and set a $23.00 price target (up from $14.00) on shares of Hortonworks in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $22.36.

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Shares of NASDAQ:HDP traded up $0.03 during midday trading on Friday, reaching $19.78. 696,048 shares of the company’s stock traded hands, compared to its average volume of 768,133. Hortonworks has a one year low of $9.93 and a one year high of $22.00. The company has a market cap of $1,587.31, a P/E ratio of -6.46 and a beta of 1.38.

Hortonworks (NASDAQ:HDP) last posted its earnings results on Thursday, February 8th. The software maker reported ($0.24) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.24). The firm had revenue of $75.01 million during the quarter, compared to the consensus estimate of $70.44 million. During the same period in the prior year, the company posted ($0.50) EPS. The firm’s revenue was up 44.4% compared to the same quarter last year. sell-side analysts expect that Hortonworks will post -2.43 EPS for the current year.

In other Hortonworks news, CEO Robert G. Bearden sold 74,449 shares of Hortonworks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $18.21, for a total transaction of $1,355,716.29. Following the completion of the sale, the chief executive officer now owns 1,905,177 shares of the company’s stock, valued at approximately $34,693,273.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Scott E. Gnau sold 2,659 shares of Hortonworks stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $17.12, for a total value of $45,522.08. Following the sale, the chief technology officer now directly owns 345,794 shares of the company’s stock, valued at approximately $5,919,993.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,491,124 shares of company stock worth $28,065,225. 22.50% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of HDP. Wells Fargo & Company MN lifted its holdings in shares of Hortonworks by 8.5% in the 2nd quarter. Wells Fargo & Company MN now owns 52,555 shares of the software maker’s stock valued at $677,000 after buying an additional 4,134 shares during the period. Northern Trust Corp lifted its holdings in shares of Hortonworks by 12.3% in the 2nd quarter. Northern Trust Corp now owns 573,682 shares of the software maker’s stock valued at $7,389,000 after buying an additional 62,673 shares during the period. Ark Investment Management LLC lifted its holdings in shares of Hortonworks by 5.9% in the 2nd quarter. Ark Investment Management LLC now owns 837,483 shares of the software maker’s stock valued at $10,787,000 after buying an additional 46,391 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Hortonworks by 21.3% in the 2nd quarter. Voya Investment Management LLC now owns 21,411 shares of the software maker’s stock valued at $276,000 after buying an additional 3,766 shares during the period. Finally, State Street Corp lifted its holdings in shares of Hortonworks by 8.8% in the 2nd quarter. State Street Corp now owns 779,256 shares of the software maker’s stock valued at $10,036,000 after buying an additional 62,903 shares during the period. 61.66% of the stock is owned by institutional investors and hedge funds.

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About Hortonworks

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.

Analyst Recommendations for Hortonworks (NASDAQ:HDP)

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