Cloudera (CLDR) Stock Price Down 19.8% Following Weak Earnings

Cloudera Inc (NYSE:CLDR)’s share price traded down 19.8% during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $11.55 and last traded at $11.71. 37,665,637 shares changed hands during mid-day trading, an increase of 838% from the average session volume of 4,017,291 shares. The stock had previously closed at $14.61.

The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16). Cloudera had a negative net margin of 35.63% and a negative return on equity of 50.68%. The business had revenue of $144.50 million during the quarter, compared to analyst estimates of $209.29 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The firm’s revenue was up 39.6% on a year-over-year basis.

A number of analysts have recently commented on the company. Wedbush cut their price target on Cloudera from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson cut their price target on Cloudera to $23.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC cut their price target on Cloudera from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Thursday. They noted that the move was a valuation call. Deutsche Bank cut their price target on Cloudera from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Morgan Stanley assumed coverage on Cloudera in a report on Tuesday. They issued an “equal weight” rating and a $16.00 price target on the stock. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $19.44.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Cloudera by 7.2% during the third quarter. BlackRock Inc. now owns 19,325,728 shares of the company’s stock worth $341,098,000 after acquiring an additional 1,292,651 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cloudera by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,969,420 shares of the company’s stock worth $175,960,000 after acquiring an additional 468,635 shares in the last quarter. Vanguard Group Inc raised its holdings in Cloudera by 4.9% during the third quarter. Vanguard Group Inc now owns 9,969,420 shares of the company’s stock worth $175,960,000 after acquiring an additional 468,635 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cloudera by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 3,479,746 shares of the company’s stock worth $61,418,000 after acquiring an additional 403,344 shares in the last quarter. Finally, Carmignac Gestion raised its holdings in Cloudera by 18.0% during the fourth quarter. Carmignac Gestion now owns 2,854,768 shares of the company’s stock worth $31,574,000 after acquiring an additional 436,089 shares in the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.

The firm has a market capitalization of $2.20 billion, a PE ratio of -3.63 and a beta of 1.69.

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Cloudera Company Profile (NYSE:CLDR)

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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