Cloudera (CLDR) Trading 12.3% Higher on Better-Than-Expected Earnings

Cloudera Inc (NYSE:CLDR)’s share price traded up 12.3% on Thursday following a stronger than expected earnings report. The company traded as high as $13.24 and last traded at $13.01. 9,271,128 shares changed hands during mid-day trading, an increase of 280% from the average session volume of 2,442,268 shares. The stock had previously closed at $11.59.

The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. Cloudera had a negative net margin of 44.68% and a negative return on equity of 58.05%. The company had revenue of $118.18 million during the quarter, compared to analysts’ expectations of $113.60 million.

Several equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Cloudera in a research report on Wednesday, September 12th. They set a “buy” rating for the company. ValuEngine upgraded shares of Cloudera from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Citigroup increased their price objective on shares of Cloudera from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Stifel Nicolaus increased their price objective on shares of Cloudera from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Raymond James increased their price objective on shares of Cloudera from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 4th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.60.

In related news, insider Michael Olson sold 27,619 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $12.04, for a total transaction of $332,532.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 165,714 shares of company stock worth $2,549,234. 30.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CLDR. Principal Financial Group Inc. bought a new position in Cloudera during the first quarter worth $220,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cloudera in the second quarter valued at $316,000. First Trust Advisors LP bought a new position in shares of Cloudera in the second quarter valued at $301,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Cloudera in the second quarter valued at $218,000. Finally, Engineers Gate Manager LP bought a new position in shares of Cloudera in the second quarter valued at $199,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $1.75 billion, a price-to-earnings ratio of -4.03 and a beta of 1.58.

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Cloudera Company Profile (NYSE:CLDR)

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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