Mizuho Increases Hortonworks (HDP) Price Target to $23.00

Hortonworks (NASDAQ:HDP) had its price objective lifted by Mizuho from $14.00 to $23.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the software maker’s stock. Mizuho’s target price suggests a potential upside of 10.42% from the stock’s previous close.

Several other analysts also recently issued reports on the company. BidaskClub downgraded Hortonworks from a “buy” rating to a “hold” rating in a research report on Tuesday. Drexel Hamilton restated a “buy” rating and issued a $26.00 price objective on shares of Hortonworks in a research report on Monday, November 6th. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price objective on shares of Hortonworks in a research report on Friday, November 3rd. ValuEngine upgraded Hortonworks from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $25.00 price objective on shares of Hortonworks in a research report on Tuesday, December 12th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $21.92.

Shares of Hortonworks (HDP) opened at $20.83 on Friday. The company has a market capitalization of $1,470.00, a price-to-earnings ratio of -6.18 and a beta of 1.66. Hortonworks has a 12-month low of $8.74 and a 12-month high of $22.00.

Hortonworks (NASDAQ:HDP) last posted its earnings results on Thursday, November 2nd. The software maker reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.16. The firm had revenue of $69.00 million for the quarter, compared to analysts’ expectations of $63.11 million. The firm’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.68) earnings per share. analysts expect that Hortonworks will post -2.98 EPS for the current fiscal year.

In other Hortonworks news, insider Scott Reasoner sold 2,364 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $16.43, for a total transaction of $38,840.52. Following the completion of the sale, the insider now directly owns 249,321 shares in the company, valued at $4,096,344.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Davidson sold 49,539 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $20.74, for a total value of $1,027,438.86. Following the sale, the insider now owns 936,011 shares of the company’s stock, valued at $19,412,868.14. The disclosure for this sale can be found here. Insiders sold 777,406 shares of company stock valued at $15,043,645 over the last quarter. Insiders own 22.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Hortonworks by 13.6% in the second quarter. Vanguard Group Inc. now owns 3,257,682 shares of the software maker’s stock worth $41,959,000 after buying an additional 389,514 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Hortonworks by 8.3% in the third quarter. Allianz Asset Management GmbH now owns 1,342,579 shares of the software maker’s stock worth $22,757,000 after buying an additional 102,396 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Hortonworks by 51.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 985,918 shares of the software maker’s stock worth $16,711,000 after buying an additional 335,418 shares during the period. Ark Investment Management LLC boosted its position in shares of Hortonworks by 5.9% in the second quarter. Ark Investment Management LLC now owns 837,483 shares of the software maker’s stock worth $10,787,000 after buying an additional 46,391 shares during the period. Finally, TCW Group Inc. boosted its position in shares of Hortonworks by 16.0% in the third quarter. TCW Group Inc. now owns 793,893 shares of the software maker’s stock worth $13,456,000 after buying an additional 109,588 shares during the period. 57.60% of the stock is owned by institutional investors.

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About Hortonworks

Hortonworks, Inc is a provider and distributor of enterprise-scale data management software platforms. The Company’s product offerings include Hortonworks Data Platform (HDP), Hortonworks Sandbox and Hortonworks DataFlow Platform (HDF). It provides support subscription offerings and related professional services for its enterprise-scale Connected Data Platforms, such as HDP and HDF.

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