Cloudera (CLDR) Downgraded by Zacks Investment Research

Cloudera (NYSE:CLDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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 research firms also recently weighed in on CLDR. Stifel Nicolaus increased their target price on shares of Cloudera from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Needham & Company LLC increased their target price on shares of Cloudera from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. DA Davidson raised shares of Cloudera from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, October 4th. Nomura raised shares of Cloudera from a “reduce” rating to a “buy” rating and increased their target price for the company from $12.00 to $23.00 in a research report on Thursday, October 4th. Finally, ValuEngine raised shares of Cloudera from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.67.

CLDR stock traded down $0.54 during trading on Tuesday, reaching $14.00. The stock had a trading volume of 2,264,615 shares, compared to its average volume of 2,355,906. Cloudera has a one year low of $12.57 and a one year high of $22.42. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -4.33 and a beta of 1.67.

Cloudera (NYSE:CLDR) last issued its quarterly earnings data on Wednesday, September 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. Cloudera had a negative net margin of 44.68% and a negative return on equity of 58.05%. The business had revenue of $110.30 million during the quarter, compared to the consensus estimate of $107.68 million. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. As a group, research analysts predict that Cloudera will post -1.16 earnings per share for the current fiscal year.

In related news, insider Michael Olson sold 27,619 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $18.22, for a total transaction of $503,218.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 138,095 shares of company stock worth $2,219,463 over the last 90 days. 30.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CLDR. Wells Fargo & Company MN lifted its stake in shares of Cloudera by 30.7% during the 1st quarter. Wells Fargo & Company MN now owns 86,831 shares of the company’s stock valued at $1,874,000 after buying an additional 20,384 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Cloudera in the 1st quarter worth approximately $859,000. Russell Investments Group Ltd. purchased a new stake in Cloudera in the 1st quarter worth approximately $1,264,000. Principal Financial Group Inc. purchased a new stake in Cloudera in the 1st quarter worth approximately $220,000. Finally, Legal & General Group Plc lifted its stake in Cloudera by 58.7% in the 1st quarter. Legal & General Group Plc now owns 37,801 shares of the company’s stock worth $816,000 after purchasing an additional 13,975 shares in the last quarter. Institutional investors own 72.49% of the company’s stock.

Cloudera Company Profile

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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