Needham & Company LLC Reiterates Buy Rating for Hortonworks, Inc. (HDP)

Needham & Company LLC reiterated their buy rating on shares of Hortonworks, Inc. (NASDAQ:HDP) in a research note published on Sunday, September 10th. Needham & Company LLC currently has a $25.00 price target on the software maker’s stock.

A number of other research analysts have also recently commented on the stock. BidaskClub raised shares of Hortonworks from a hold rating to a buy rating in a research report on Wednesday, September 6th. Credit Suisse Group began coverage on shares of Hortonworks in a research report on Tuesday, September 5th. They set an outperform rating and a $20.00 target price on the stock. Barclays PLC boosted their target price on shares of Hortonworks from $16.00 to $20.00 and gave the stock an overweight rating in a research report on Friday, August 25th. ValuEngine raised shares of Hortonworks from a sell rating to a hold rating in a research report on Thursday, August 10th. Finally, Cowen and Company restated a market perform rating and issued a $14.00 price target (up previously from $11.00) on shares of Hortonworks in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $18.21.

Hortonworks (NASDAQ:HDP) opened at 16.69 on Friday. The company’s 50-day moving average is $15.51 and its 200 day moving average is $12.64. The stock’s market capitalization is $690.42 million. Hortonworks has a one year low of $6.42 and a one year high of $17.70.

Hortonworks (NASDAQ:HDP) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.87) earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $57.62 million. During the same period in the previous year, the company posted ($0.72) earnings per share. Hortonworks’s revenue was up 41.6% compared to the same quarter last year. Equities analysts expect that Hortonworks will post ($1.72) EPS for the current year.

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In other news, insider Greg Pavlik sold 5,532 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.35, for a total transaction of $73,852.20. Following the completion of the transaction, the insider now owns 263,584 shares of the company’s stock, valued at $3,518,846.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shaun Connolly sold 54,313 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $13.23, for a total transaction of $718,560.99. Following the completion of the sale, the insider now directly owns 452,969 shares of the company’s stock, valued at approximately $5,992,779.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 808,577 shares of company stock valued at $12,857,295. Corporate insiders own 26.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in Hortonworks by 1.4% in the second quarter. California State Teachers Retirement System now owns 84,780 shares of the software maker’s stock worth $1,092,000 after purchasing an additional 1,200 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Hortonworks by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 39,011 shares of the software maker’s stock worth $502,000 after purchasing an additional 3,582 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Hortonworks in the second quarter worth about $3,062,000. Cubist Systematic Strategies LLC acquired a new stake in Hortonworks in the second quarter worth about $242,000. Finally, State Street Corp lifted its holdings in Hortonworks by 8.8% in the second 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. 49.62% of the stock is owned by institutional investors and hedge funds.

Hortonworks Company Profile

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.

Analyst Recommendations for Hortonworks (NASDAQ:HDP)

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