Cloudera (NYSE:CLDR) Upgraded to “Buy” at ValuEngine

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Cloudera (NYSE:CLDR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday, September 17th.

CLDR has been the subject of several other reports. Zacks Investment Research raised shares of Cloudera from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, June 19th. BTIG Research began coverage on shares of Cloudera in a research report on Wednesday, September 12th. They issued a “buy” rating for the company. Rosenblatt Securities began coverage on shares of Cloudera in a research report on Monday, July 9th. They issued a “neutral” rating and a $17.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Cloudera from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Finally, Citigroup increased their price objective on shares of Cloudera from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.43.

Shares of CLDR stock traded up $0.47 during mid-day trading on Monday, hitting $15.51. 5,041,667 shares of the stock traded hands, compared to its average volume of 2,312,374. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -4.80 and a beta of 0.72. Cloudera has a 52-week low of $12.57 and a 52-week high of $22.42.

Cloudera (NYSE:CLDR) last released its quarterly earnings results on Wednesday, September 5th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $107.68 million. Cloudera had a negative net margin of 44.68% and a negative return on equity of 58.05%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts expect that Cloudera will post -1.16 EPS for the current year.

In other Cloudera news, insider Michael Olson sold 27,619 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $15.86, for a total transaction of $438,037.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 165,714 shares of company stock valued at $2,630,710 over the last three months. 30.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CLDR. OppenheimerFunds Inc. acquired a new stake in shares of Cloudera during the 2nd quarter worth approximately $40,920,000. BlackRock Inc. grew its stake in shares of Cloudera by 12.8% during the 2nd quarter. BlackRock Inc. now owns 18,033,077 shares of the company’s stock worth $245,971,000 after purchasing an additional 2,039,868 shares during the period. Contour Asset Management LLC acquired a new stake in shares of Cloudera during the 1st quarter worth approximately $36,468,000. Millennium Management LLC grew its stake in shares of Cloudera by 2,235.3% during the 2nd quarter. Millennium Management LLC now owns 1,082,048 shares of the company’s stock worth $14,759,000 after purchasing an additional 1,035,714 shares during the period. Finally, Bain Capital Public Equity Management LLC grew its stake in shares of Cloudera by 75.3% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 1,203,674 shares of the company’s stock worth $16,418,000 after purchasing an additional 516,861 shares during the period. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Cloudera Company Profile

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.

Featured Article: Why do company’s buyback their stock?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cloudera (NYSE:CLDR)

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