Zacks Investment Research Upgrades Hortonworks (HDP) to “Hold”

Hortonworks (NASDAQ:HDP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Hortonworks Inc. is involved in the development, distribution and support of Hadoop solutions primarily in the United States and internationally. The company provides an enterprise-grade data management platform to capture, store, process and analyze data. Hortonworks Inc. is headquartered in Palo Alto, California. “

A number of other equities analysts have also recently issued reports on HDP. ValuEngine cut Hortonworks from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup set a $33.00 target price on Hortonworks and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC increased their target price on Hortonworks from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. DA Davidson increased their target price on Hortonworks from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Finally, BidaskClub raised Hortonworks from a “hold” rating to a “buy” rating in a report on Friday, September 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Hortonworks presently has an average rating of “Buy” and a consensus price target of $26.50.

Shares of HDP opened at $16.24 on Friday. Hortonworks has a 1 year low of $16.07 and a 1 year high of $26.22. The company has a market capitalization of $1.47 billion, a PE ratio of -5.31 and a beta of 1.70.

Hortonworks (NASDAQ:HDP) last issued its earnings results on Thursday, November 8th. The software maker reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.11. The company had revenue of $87.20 million during the quarter, compared to analyst estimates of $87.07 million. During the same period in the previous year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. Research analysts predict that Hortonworks will post -1.99 earnings per share for the current year.

In other news, insider Scott Reasoner sold 3,126 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $25.02, for a total value of $78,212.52. Following the transaction, the insider now directly owns 183,686 shares in the company, valued at approximately $4,595,823.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Bearden sold 258,098 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $21.77, for a total value of $5,618,793.46. Following the completion of the transaction, the chief executive officer now owns 1,265,633 shares in the company, valued at $27,552,830.41. The disclosure for this sale can be found here. Insiders sold a total of 1,105,408 shares of company stock worth $24,098,099 over the last quarter. Corporate insiders own 15.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Global X Management Co LLC acquired a new stake in shares of Hortonworks in the 2nd quarter valued at about $156,000. Amalgamated Bank bought a new position in Hortonworks during the second quarter worth about $192,000. Dynamic Technology Lab Private Ltd bought a new position in Hortonworks during the second quarter worth about $202,000. Ashfield Capital Partners LLC bought a new position in Hortonworks during the third quarter worth about $205,000. Finally, Signaturefd LLC bought a new position in Hortonworks during the second quarter worth about $209,000. Hedge funds and other institutional investors own 79.78% of the company’s stock.

Hortonworks Company Profile

Hortonworks, Inc provides data management platforms, services, and solutions in North America, the Asia Pacific, Europe, and Latin America. It offers Hortonworks Data Platform (HDP), an enterprise-scale data management platform which provides a platform for multi-workload data processing; Hortonworks DataFlow, a data-in-motion platform to automate and secure Internet of anything data flows, as well as to collect, conduct, and curate real-time business insights and actions derived from data in motion, including sensors, machines, geolocation devices, clicks, server logs, and social feeds; and Hortonworks DataPlane Service simplifies managing, securing, governing, provisioning, and consuming distributed data systems.

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