Hortonworks Inc. (NASDAQ:HDP) was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “sell” rating in a research report issued on Thursday. They currently have a $7.00 target price on the stock, down from their previous target price of $13.00. Goldman Sachs Group Inc.’s target price indicates a potential downside of 2.37% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently issued reports on HDP. JMP Securities reaffirmed a “buy” rating on shares of Hortonworks in a report on Saturday, July 9th. DA Davidson set a $13.00 price target on shares of Hortonworks and gave the stock a “buy” rating in a report on Saturday, August 6th. SunTrust Banks Inc. set a $14.00 price target on shares of Hortonworks and gave the stock a “buy” rating in a report on Saturday, August 6th. Zacks Investment Research raised shares of Hortonworks from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Wunderlich decreased their price target on shares of Hortonworks from $17.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.50.
Shares of Hortonworks (NASDAQ:HDP) traded down 3.63% on Thursday, reaching $6.91. 499,329 shares of the company traded hands. Hortonworks has a 1-year low of $6.81 and a 1-year high of $22.82. The stock’s market capitalization is $285.85 million. The company has a 50-day moving average of $7.98 and a 200-day moving average of $10.24.
Hortonworks (NASDAQ:HDP) last announced its earnings results on Thursday, August 4th. The company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by $0.02. The firm earned $43.60 million during the quarter, compared to analyst estimates of $45.24 million. Hortonworks had a negative net margin of 144.53% and a negative return on equity of 236.91%. Hortonworks’s revenue was up 45.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.82) earnings per share. Analysts anticipate that Hortonworks will post ($2.65) earnings per share for the current fiscal year.
In related news, insider Scott Reasoner sold 2,594 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $12.44, for a total transaction of $32,269.36. Following the transaction, the insider now directly owns 135,874 shares in the company, valued at $1,690,272.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Greg Pavlik sold 76,313 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $9.13, for a total transaction of $696,737.69. Following the transaction, the insider now owns 386,580 shares in the company, valued at $3,529,475.40. The disclosure for this sale can be found here. 26.00% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of HDP. SG Americas Securities LLC acquired a new position in Hortonworks during the second quarter worth $141,000. Societe Generale acquired a new position in Hortonworks during the second quarter worth $141,000. Trexquant Investment LP acquired a new position in Hortonworks during the second quarter worth $184,000. Royal Bank of Canada raised its position in Hortonworks by 63.1% in the first quarter. Royal Bank of Canada now owns 20,768 shares of the company’s stock worth $234,000 after buying an additional 8,031 shares during the last quarter. Finally, American International Group Inc. raised its position in Hortonworks by 423.7% in the second quarter. American International Group Inc. now owns 23,220 shares of the company’s stock worth $248,000 after buying an additional 18,786 shares during the last quarter. Hedge funds and other institutional investors own 51.80% of the company’s stock.
Hortonworks, Inc is a provider and distributor of an 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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