Cloudera (CLDR) Lifted to Buy at Zacks Investment Research

Cloudera (NYSE:CLDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $15.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 8.54% from the stock’s previous close.

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. “

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CLDR has been the topic of a number of other reports. Citigroup decreased their price objective on Cloudera from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, December 7th. Nomura set a $20.00 price objective on Cloudera and gave the company a “buy” rating in a research report on Thursday, December 6th. Rosenblatt Securities upgraded Cloudera from a “neutral” rating to a “buy” rating in a research report on Friday, November 9th. UBS Group upgraded Cloudera from a “neutral” rating to a “buy” rating in a research report on Friday, November 9th. Finally, ValuEngine upgraded Cloudera from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Cloudera currently has a consensus rating of “Buy” and an average target price of $20.94.

Cloudera stock traded up $0.07 during midday trading on Monday, reaching $13.82. 2,275,466 shares of the stock traded hands, compared to its average volume of 3,214,202. Cloudera has a 12 month low of $10.07 and a 12 month high of $22.42. The firm has a market cap of $2.12 billion, a PE ratio of -4.28 and a beta of 1.66.

Cloudera (NYSE:CLDR) last announced its quarterly earnings results on Wednesday, December 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Cloudera had a negative return on equity of 50.68% and a negative net margin of 35.63%. The company had revenue of $118.18 million during the quarter, compared to analyst estimates of $113.60 million. On average, sell-side analysts predict that Cloudera will post -0.98 earnings per share for the current year.

In other news, insider Michael Olson sold 27,619 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $12.22, for a total value of $337,504.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 30.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in Cloudera during the 4th quarter valued at $169,000. Millennium Management LLC boosted its position in Cloudera by 32.7% during the 4th quarter. Millennium Management LLC now owns 1,506,085 shares of the company’s stock valued at $16,657,000 after acquiring an additional 371,107 shares in the last quarter. UBS Oconnor LLC bought a new stake in Cloudera during the 4th quarter valued at $2,378,000. Carmignac Gestion boosted its position in Cloudera by 18.0% during the 4th quarter. Carmignac Gestion now owns 2,854,768 shares of the company’s stock valued at $31,574,000 after acquiring an additional 436,089 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Cloudera by 38.7% during the 4th quarter. Legal & General Group Plc now owns 51,146 shares of the company’s stock valued at $566,000 after acquiring an additional 14,261 shares in the last quarter. 74.53% of the stock is currently owned by institutional investors and hedge funds.

About Cloudera

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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