Cloudera (CLDR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Cloudera (NASDAQ:CLDR) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $19.00 price target 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 also recently weighed in on CLDR. Morgan Stanley upped their price objective on Cloudera from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Friday, September 8th. Stifel Nicolaus restated a buy rating and set a $24.00 price objective on shares of Cloudera in a research report on Friday, September 8th. J P Morgan Chase & Co restated an overweight rating and set a $24.00 price objective (up from $20.00) on shares of Cloudera in a research report on Friday, September 8th. Finally, BidaskClub upgraded Cloudera from a hold rating to a buy rating in a research report on Wednesday, August 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $22.50.

Cloudera (CLDR) opened at 16.31 on Tuesday. Cloudera has a one year low of $15.40 and a one year high of $23.35. The company’s market capitalization is $2.14 billion. The firm’s 50 day moving average price is $18.02 and its 200-day moving average price is $18.40.

Cloudera (NASDAQ:CLDR) last released its earnings results on Thursday, September 7th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.08. The company had revenue of $89.80 million for the quarter, compared to the consensus estimate of $85.72 million. The company’s revenue for the quarter was up 39.2% on a year-over-year basis. Equities analysts forecast that Cloudera will post ($0.93) earnings per share for the current fiscal year.

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In related news, Director Ping Li sold 6,528,862 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.79, for a total transaction of $103,090,730.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Greylock Xii Gp Llc sold 3,575,098 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.79, for a total value of $56,450,797.42. The disclosure for this sale can be found here.

A number of institutional investors have recently bought and sold shares of the business. FMR LLC bought a new position in Cloudera in the second quarter valued at about $39,867,000. TimesSquare Capital Management LLC bought a new position in Cloudera in the second quarter valued at about $36,154,000. Capital World Investors bought a new position in Cloudera in the second quarter valued at about $34,057,000. Glynn Capital Management LLC bought a new position in Cloudera in the second quarter valued at about $29,774,000. Finally, JPMorgan Chase & Co. bought a new position in Cloudera in the second quarter valued at about $18,831,000.

Analyst Recommendations for Cloudera (NASDAQ:CLDR)

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