Hortonworks, Inc. (HDP) Upgraded to Buy by BidaskClub
BidaskClub upgraded shares of Hortonworks, Inc. (NASDAQ:HDP) from a hold rating to a buy rating in a research report released on Wednesday morning.
Several other research firms also recently commented on HDP. Credit Suisse Group AG began coverage on shares of Hortonworks in a research report on Tuesday, September 5th. They issued an outperform rating and a $20.00 price target for the company. Barclays PLC upped their price target on shares of Hortonworks from $16.00 to $20.00 and gave the company an overweight rating in a research report on Friday, August 25th. ValuEngine upgraded shares of Hortonworks from a sell rating to a hold rating in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Hortonworks from a hold rating to a sell rating in a research report on Tuesday, August 8th. Finally, Cowen and Company reiterated a market perform rating and issued a $14.00 price target (up previously from $11.00) on shares of Hortonworks in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $18.21.
Shares of Hortonworks (NASDAQ HDP) opened at 16.79 on Wednesday. Hortonworks has a 1-year low of $6.42 and a 1-year high of $17.70. The firm’s market cap is $694.55 million. The stock has a 50 day moving average of $15.04 and a 200-day moving average of $12.41.
Hortonworks (NASDAQ:HDP) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.87) EPS for the quarter, meeting the consensus estimate of ($0.87). Hortonworks had a negative net margin of 107.07% and a negative return on equity of 765.37%. The firm had revenue of $61.83 million during the quarter, compared to the consensus estimate of $57.62 million. During the same quarter in the prior year, the firm earned ($0.72) EPS. Hortonworks’s revenue for the quarter was up 41.6% on a year-over-year basis. Equities analysts anticipate that Hortonworks will post ($1.72) EPS for the current fiscal year.
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In other news, CFO Scott Davidson sold 42,061 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $12.51, for a total transaction of $526,183.11. Following the transaction, the chief financial officer now directly owns 668,651 shares of the company’s stock, valued at approximately $8,364,824.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shaun Connolly sold 7,830 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $12.59, for a total transaction of $98,579.70. Following the transaction, the insider now directly owns 507,282 shares in the company, valued at $6,386,680.38. The disclosure for this sale can be found here. Insiders sold a total of 284,324 shares of company stock worth $3,942,243 over the last three months. 26.00% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Hortonworks by 13.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,257,682 shares of the software maker’s stock worth $41,959,000 after purchasing an additional 389,514 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Hortonworks by 71.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 990,363 shares of the software maker’s stock worth $12,756,000 after purchasing an additional 412,539 shares during the period. ARK Investment Management LLC grew its stake in shares of Hortonworks by 5.9% during the 2nd quarter. ARK Investment Management LLC now owns 837,483 shares of the software maker’s stock worth $10,787,000 after purchasing an additional 46,391 shares during the period. State Street Corp grew its stake in shares of Hortonworks by 8.8% during the 2nd quarter. State Street Corp now owns 779,256 shares of the software maker’s stock worth $10,036,000 after purchasing an additional 62,903 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its stake in shares of Hortonworks by 885.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 674,100 shares of the software maker’s stock worth $8,682,000 after purchasing an additional 605,700 shares during the period. 49.62% of the stock is currently owned by institutional investors and hedge funds.
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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