Cloudera (NYSE:CLDR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cloudera (NYSE:CLDR) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.75 price objective on the stock.

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. “

Several other research firms have also recently commented on CLDR. Citigroup set a $86.00 target price on Prologis and gave the company a buy rating in a research report on Thursday, June 6th. Needham & Company LLC set a $47.00 target price on G-III Apparel Group and gave the company a buy rating in a research report on Thursday, June 6th. Wedbush restated an outperform rating and issued a $79.00 target price on shares of Aimmune Therapeutics in a research report on Thursday, June 6th. BTIG Research lowered their target price on Cloudera to $10.00 and set a buy rating on the stock in a research report on Thursday, June 6th. They noted that the move was a valuation call. Finally, Stifel Nicolaus cut Cloudera from a buy rating to a hold rating and lowered their target price for the company from $16.00 to $6.00 in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $12.44.

Shares of NYSE CLDR opened at $5.25 on Wednesday. Cloudera has a 12-month low of $4.89 and a 12-month high of $20.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 1.36. The business has a 50 day moving average of $6.34.

Cloudera (NYSE:CLDR) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.24. Cloudera had a negative return on equity of 24.15% and a negative net margin of 44.35%. The business had revenue of $187.50 million for the quarter, compared to the consensus estimate of $188.44 million. During the same quarter last year, the business posted ($0.17) EPS. The business’s revenue was up 81.2% on a year-over-year basis. On average, research analysts forecast that Cloudera will post -0.98 earnings per share for the current year.

In other news, Director Kimberly Hammonds sold 7,686 shares of Cloudera stock in a transaction on Monday, June 17th. The stock was sold at an average price of $5.73, for a total transaction of $44,040.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.90% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of CLDR. BlackRock Inc. increased its position in shares of Cloudera by 36.0% during the 1st quarter. BlackRock Inc. now owns 25,545,663 shares of the company’s stock valued at $279,470,000 after purchasing an additional 6,759,290 shares during the period. OppenheimerFunds Inc. grew its holdings in shares of Cloudera by 174.0% in the 1st quarter. OppenheimerFunds Inc. now owns 8,220,000 shares of the company’s stock worth $89,927,000 after acquiring an additional 5,220,000 shares during the last quarter. FMR LLC grew its holdings in shares of Cloudera by 1,507.0% in the 1st quarter. FMR LLC now owns 5,208,982 shares of the company’s stock worth $56,987,000 after acquiring an additional 4,884,836 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Cloudera by 91.5% in the 1st quarter. Neuberger Berman Group LLC now owns 3,292,864 shares of the company’s stock worth $36,015,000 after acquiring an additional 1,573,072 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in shares of Cloudera in the 1st quarter worth $16,550,000. Institutional investors own 74.56% 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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