Hortonworks’ (HDP) “Buy” Rating Reaffirmed at Drexel Hamilton

Hortonworks Inc (NASDAQ:HDP)‘s stock had its “buy” rating reiterated by analysts at Drexel Hamilton in a report issued on Friday, May 5th. They presently have a $21.00 target price on the software maker’s stock. Drexel Hamilton’s target price indicates a potential upside of 69.22% from the company’s previous close.

Several other analysts also recently commented on HDP. Mizuho restated a “buy” rating and issued a $13.00 target price on shares of Hortonworks in a research note on Monday, April 24th. Zacks Investment Research upgraded Hortonworks from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Hortonworks in a research note on Thursday, May 4th. Cowen and Company reiterated a “market perform” rating and set a $9.00 price target (up previously from $8.00) on shares of Hortonworks in a research note on Tuesday, February 14th. Finally, Wells Fargo & Co began coverage on Hortonworks in a research note on Wednesday, January 11th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $15.09.

Analyst Recommendations for Hortonworks (NASDAQ:HDP)

Shares of Hortonworks (NASDAQ:HDP) traded down 1.66% on Friday, hitting $12.41. The stock had a trading volume of 790,525 shares. The company’s market cap is $513.36 million. The firm has a 50 day moving average price of $11.09 and a 200-day moving average price of $9.71. Hortonworks has a 52 week low of $6.42 and a 52 week high of $13.76.

Hortonworks (NASDAQ:HDP) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.88) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.05. Hortonworks had a negative return on equity of 294.33% and a negative net margin of 136.45%. The firm had revenue of $55.97 million during the quarter, compared to analyst estimates of $52.21 million. During the same period last year, the company posted ($0.68) EPS. The business’s quarterly revenue was up 35.4% on a year-over-year basis. Analysts anticipate that Hortonworks will post ($1.82) EPS for the current year.

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In related news, insider Shaun Connolly sold 19,357 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $9.46, for a total value of $183,117.22. Following the completion of the transaction, the insider now directly owns 586,922 shares in the company, valued at $5,552,282.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Greg Pavlik sold 35,416 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $10.15, for a total transaction of $359,472.40. Following the sale, the insider now owns 354,630 shares of the company’s stock, valued at $3,599,494.50. The disclosure for this sale can be found here. Insiders have sold a total of 112,909 shares of company stock worth $1,154,373 in the last three months. Insiders own 26.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Hortonworks during the fourth quarter valued at approximately $3,887,000. Allianz Asset Management AG increased its position in Hortonworks by 30.1% in the fourth quarter. Allianz Asset Management AG now owns 1,755,403 shares of the software maker’s stock worth $14,587,000 after buying an additional 406,170 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new position in Hortonworks during the third quarter worth about $11,266,000. NJ State Employees Deferred Compensation Plan bought a new position in Hortonworks during the first quarter worth about $294,000. Finally, Blackstone Group L.P. acquired a new position in shares of Hortonworks during the third quarter worth $1,806,000. 52.91% of the stock is owned by hedge funds and other institutional investors.

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.

12 Month Chart for NASDAQ:HDP

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