Zacks Investment Research upgraded shares of Cloudera (NASDAQ:CLDR) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $19.00 price objective on the stock.
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. “
Several other brokerages have also issued reports on CLDR. Morgan Stanley reiterated a hold rating and issued a $20.00 price target on shares of Cloudera in a report on Sunday, May 28th. Bank of America Corporation started coverage on Cloudera in a report on Wednesday, May 24th. They issued a neutral rating and a $23.00 price target on the stock. Stifel Nicolaus restated a buy rating and issued a $24.00 target price on shares of Cloudera in a report on Friday, September 8th. J P Morgan Chase & Co restated an overweight rating and issued a $24.00 target price (up previously from $20.00) on shares of Cloudera in a report on Friday, September 8th. Finally, JMP Securities started coverage on Cloudera in a report on Tuesday, May 23rd. They issued a market perform rating on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $22.50.
Shares of Cloudera (NASDAQ CLDR) opened at 17.13 on Tuesday. Cloudera has a 12 month low of $15.40 and a 12 month high of $23.35. The firm’s market cap is $2.30 billion. The company has a 50-day moving average price of $18.24 and a 200-day moving average price of $18.63.
Cloudera (NASDAQ:CLDR) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.08. The firm had revenue of $89.80 million during the quarter, compared to the consensus estimate of $85.72 million. The company’s quarterly revenue was up 39.2% compared to the same quarter last year. Analysts forecast that Cloudera will post ($0.93) earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors bought a new position in shares of Cloudera in the second quarter valued at approximately $131,000. Blume Capital Management Inc. bought a new position in shares of Cloudera in the second quarter valued at approximately $135,000. The Manufacturers Life Insurance Company bought a new position in shares of Cloudera in the second quarter valued at approximately $172,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Cloudera in the second quarter valued at approximately $190,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Cloudera in the second quarter valued at approximately $190,000.
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