Zacks Investment Research Upgrades Cloudera (NYSE:CLDR) to Hold

Cloudera (NYSE:CLDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Cloudera, Inc. develops and distributes software for business data which include storage, access, management, analysis, security, search, processing and analysis applications. Its products include Cloudera Enterprise Data Hub, Cloudera Analytic BD, Cloudera Operational DB, Cloudera Data Science & Engineering and Cloud Essentials. Cloudera, Inc. is headquartered in Palo Alto, California. “

A number of other equities research analysts have also commented on CLDR. JMP Securities upgraded Cloudera from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Thursday, September 5th. Citigroup upped their price target on Cloudera from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Morgan Stanley upped their price target on Cloudera from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 24th. Barclays reiterated a “hold” rating and issued a $10.00 price target on shares of Cloudera in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on Cloudera from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Cloudera currently has an average rating of “Hold” and an average price target of $11.58.

CLDR stock traded down $0.07 during midday trading on Tuesday, reaching $8.67. 2,370,085 shares of the stock were exchanged, compared to its average volume of 6,441,684. The stock has a market capitalization of $2.45 billion, a PE ratio of -7.61 and a beta of 0.81. Cloudera has a 52 week low of $4.89 and a 52 week high of $15.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.37. The company has a fifty day moving average price of $8.73 and a 200 day moving average price of $7.80.

Cloudera (NYSE:CLDR) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. The business had revenue of $196.70 million for the quarter, compared to analyst estimates of $182.31 million. Cloudera had a negative return on equity of 21.07% and a negative net margin of 46.72%. Cloudera’s quarterly revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, analysts anticipate that Cloudera will post -1.05 earnings per share for the current fiscal year.

In related news, CAO Scott Reasoner sold 7,688 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $6.46, for a total transaction of $49,664.48. Following the sale, the chief accounting officer now owns 121,206 shares in the company, valued at approximately $782,990.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carl C. Icahn bought 439,914 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $2,199,570.00. In the last 90 days, insiders have sold 16,153 shares of company stock worth $125,667. 17.90% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CLDR. Retirement Systems of Alabama boosted its position in shares of Cloudera by 17.5% during the 2nd quarter. Retirement Systems of Alabama now owns 470,000 shares of the company’s stock valued at $2,472,000 after purchasing an additional 70,000 shares in the last quarter. New Jersey Better Educational Savings Trust raised its stake in Cloudera by 9.1% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 24,000 shares of the company’s stock worth $126,000 after buying an additional 2,000 shares during the period. Gradient Investments LLC raised its stake in Cloudera by 175.2% during the 2nd quarter. Gradient Investments LLC now owns 116,875 shares of the company’s stock worth $615,000 after buying an additional 74,405 shares during the period. Fox Run Management L.L.C. acquired a new position in Cloudera during the 2nd quarter worth approximately $170,000. Finally, Spearhead Capital Advisors LLC acquired a new position in Cloudera during the 2nd quarter worth approximately $65,000. Institutional investors own 67.46% of the company’s stock.

About Cloudera

Cloudera, Inc provides a suite of data analytics and management products in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. It offers Cloudera Enterprise Data Hub that allows companies to execute various analytic functions against a shared set of governed and secures data in public and private clouds, and data centers; Cloudera Data Warehouse, a hybrid cloud solution for self-service analytics; Cloudera Data Science and Engineering enables users to streamline, simplify, and scale big data processing; and Cloudera Operational DB that enables stream processing and real-time analytics on continuously changing data.

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