Zacks Investment Research Downgrades Hortonworks Inc. (HDP) to Sell
Hortonworks Inc. (NASDAQ:HDP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Hortonworks Inc. is involved in the development, distribution and support of Hadoop solutions primarily in the United States and internationally. The company provides an enterprise-grade data management platform to capture, store, process and analyze data. Hortonworks Inc. is headquartered in Palo Alto, California. “
HDP has been the subject of a number of other research reports. Wunderlich reduced their price target on Hortonworks from $17.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 5th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $20.00) on shares of Hortonworks in a report on Friday, August 5th. Goldman Sachs Group Inc. cut Hortonworks from a “buy” rating to a “sell” rating and reduced their price target for the stock from $13.00 to $7.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. DA Davidson set a $13.00 price target on Hortonworks and gave the stock a “buy” rating in a report on Saturday, August 6th. Finally, Mizuho reiterated a “neutral” rating and set a $10.00 price objective on shares of Hortonworks in a research note on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $16.90.
Shares of Hortonworks (NASDAQ:HDP) opened at 9.19 on Tuesday. The company’s market capitalization is $380.16 million. The stock has a 50 day moving average price of $7.97 and a 200 day moving average price of $9.59. Hortonworks has a 1-year low of $6.42 and a 1-year high of $22.75.
Hortonworks (NASDAQ:HDP) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by $0.02. The business earned $47.52 million during the quarter, compared to analyst estimates of $45.10 million. Hortonworks had a negative return on equity of 304.38% and a negative net margin of 144.11%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.74) EPS. On average, equities analysts anticipate that Hortonworks will post ($2.68) EPS for the current fiscal year.
In other Hortonworks news, CFO Scott Davidson sold 9,332 shares of the company’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $6.82, for a total transaction of $63,644.24. Following the transaction, the chief financial officer now directly owns 450,754 shares in the company, valued at $3,074,142.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shaun Connolly sold 11,559 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $6.81, for a total value of $78,716.79. Following the transaction, the insider now owns 624,141 shares in the company, valued at $4,250,400.21. The disclosure for this sale can be found here. 26.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its stake in shares of Hortonworks by 6.3% in the first quarter. BlackRock Group LTD now owns 180,029 shares of the company’s stock valued at $2,034,000 after buying an additional 10,650 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hortonworks by 61.8% in the second quarter. Bank of New York Mellon Corp now owns 176,348 shares of the company’s stock valued at $1,885,000 after buying an additional 67,328 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Hortonworks by 340.2% in the second quarter. California State Teachers Retirement System now owns 84,580 shares of the company’s stock valued at $904,000 after buying an additional 65,367 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Hortonworks during the second quarter valued at about $1,079,000. Finally, New Jersey Better Educational Savings Trust boosted its stake in shares of Hortonworks by 3.3% in the second quarter. New Jersey Better Educational Savings Trust now owns 31,000 shares of the company’s stock valued at $331,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.
Hortonworks Company Profile
Hortonworks, Inc is a provider and distributor of an 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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