Shares of Cloudera Inc (NYSE:CLDR) traded down 19.8% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.55 and last traded at $11.71. 37,665,637 shares were traded during mid-day trading, an increase of 838% from the average session volume of 4,017,291 shares. The stock had previously closed at $14.61.
The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.16). Cloudera had a negative return on equity of 50.68% and a negative net margin of 35.63%. The business had revenue of $144.50 million during the quarter, compared to analysts’ expectations of $209.29 million. During the same period in the previous year, the company posted ($0.10) EPS. Cloudera’s revenue for the quarter was up 39.6% on a year-over-year basis.
Several research analysts recently commented on CLDR shares. DA Davidson reduced their price objective on shares of Cloudera to $23.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank reduced their price objective on shares of Cloudera from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday. Needham & Company LLC reduced their price objective on shares of Cloudera from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Thursday. They noted that the move was a valuation call. Morgan Stanley started coverage on shares of Cloudera in a research note on Tuesday. They set an “equal weight” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Cloudera from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Cloudera presently has an average rating of “Buy” and a consensus price target of $19.44.
The company has a market cap of $2.20 billion, a PE ratio of -3.61 and a beta of 1.69.
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About Cloudera (NYSE:CLDR)
Cloudera, Inc provides platform for machine learning and analytics in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. Its platform delivers an integrated suite of capabilities for data management, machine learning, and analytics to customers for transforming their businesses.
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