Drexel Hamilton Reiterates “Buy” Rating for Hortonworks, Inc. (HDP)
Hortonworks, Inc. (NASDAQ:HDP)‘s stock had its “buy” rating reaffirmed by analysts at Drexel Hamilton in a note issued to investors on Saturday, July 22nd. They presently have a $21.00 price objective on the software maker’s stock. Drexel Hamilton’s price target would indicate a potential upside of 59.70% from the stock’s previous close.
A number of other brokerages have also recently weighed in on HDP. Mizuho cut Hortonworks from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.00 to $14.00 in a research report on Thursday, May 25th. Wunderlich raised their price target on Hortonworks from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Northland Securities reiterated a “buy” rating and set a $24.00 price objective on shares of Hortonworks in a research report on Monday, July 17th. Craig Hallum began coverage on Hortonworks in a research report on Monday, July 17th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $21.00 price objective on shares of Hortonworks in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Hortonworks presently has a consensus rating of “Buy” and a consensus price target of $17.13.
Shares of Hortonworks (NASDAQ HDP) traded down 3.35% during midday trading on Friday, reaching $12.71. 497,492 shares of the company traded hands. The stock’s market capitalization is $525.77 million. Hortonworks has a 1-year low of $6.42 and a 1-year high of $15.00. The stock’s 50-day moving average is $13.23 and its 200-day moving average is $11.32.
Hortonworks (NASDAQ:HDP) last released its earnings results on Thursday, May 4th. The software maker reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.05. Hortonworks had a negative return on equity of 765.37% and a negative net margin of 120.94%. The company had revenue of $55.97 million during the quarter, compared to the consensus estimate of $52.21 million. During the same quarter last year, the company earned ($0.68) earnings per share. Hortonworks’s quarterly revenue was up 35.4% compared to the same quarter last year. Equities analysts predict that Hortonworks will post ($1.81) EPS for the current fiscal year.
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In other Hortonworks news, insider Scott Reasoner sold 2,302 shares of Hortonworks stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $13.01, for a total transaction of $29,949.02. Following the sale, the insider now directly owns 177,757 shares in the company, valued at approximately $2,312,618.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shaun Connolly sold 7,831 shares of Hortonworks stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $13.48, for a total value of $105,561.88. Following the sale, the insider now owns 611,837 shares in the company, valued at $8,247,562.76. The disclosure for this sale can be found here. Insiders sold a total of 487,638 shares of company stock worth $6,156,232 over the last ninety days. Corporate insiders own 26.00% of the company’s stock.
Large investors have recently modified their holdings of the stock. American International Group Inc. increased its stake in shares of Hortonworks by 7.4% in the first quarter. American International Group Inc. now owns 24,917 shares of the software maker’s stock worth $244,000 after buying an additional 1,723 shares during the period. Teachers Advisors LLC increased its stake in shares of Hortonworks by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 66,979 shares of the software maker’s stock worth $557,000 after buying an additional 2,862 shares during the period. Edge Wealth Management LLC increased its stake in shares of Hortonworks by 77.2% in the second quarter. Edge Wealth Management LLC now owns 14,350 shares of the software maker’s stock worth $182,000 after buying an additional 6,250 shares during the period. Parkwood LLC increased its stake in shares of Hortonworks by 38.6% in the first quarter. Parkwood LLC now owns 24,363 shares of the software maker’s stock worth $239,000 after buying an additional 6,785 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Hortonworks by 19.5% in the second quarter. Rhumbline Advisers now owns 53,401 shares of the software maker’s stock worth $688,000 after buying an additional 8,707 shares during the period. Institutional investors and hedge funds own 50.44% of the company’s stock.
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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