Hortonworks (HDP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Hortonworks (NASDAQ:HDP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Hortonworks Inc. is involved in the development, distribution and support of Hadoop solutions primarily in the United States and internationally. The company provides an enterprise-grade data management platform to capture, store, process and analyze data. Hortonworks Inc. is headquartered in Palo Alto, California. “

A number of other equities analysts also recently commented on HDP. Drexel Hamilton reiterated a buy rating and issued a $22.00 price target on shares of Hortonworks in a research note on Thursday, September 21st. Royal Bank of Canada reiterated a buy rating and issued a $16.00 price target on shares of Hortonworks in a research note on Sunday, September 17th. Needham & Company LLC reiterated a buy rating and issued a $25.00 price target on shares of Hortonworks in a research note on Sunday, September 10th. BidaskClub upgraded Hortonworks from a hold rating to a buy rating in a research note on Wednesday, September 6th. Finally, Rosenblatt Securities reiterated a buy rating and issued a $25.00 price target on shares of Hortonworks in a research note on Tuesday, December 12th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $21.08.

Shares of Hortonworks (NASDAQ HDP) traded down $0.43 during midday trading on Wednesday, hitting $20.84. The stock had a trading volume of 466,000 shares, compared to its average volume of 732,633. Hortonworks has a twelve month low of $8.74 and a twelve month high of $22.00. The stock has a market capitalization of $1,470.00, a price-to-earnings ratio of -6.18 and a beta of 1.66.

Hortonworks (NASDAQ:HDP) last announced its earnings results on Thursday, November 2nd. The software maker reported ($0.24) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.16. The business had revenue of $69.00 million for the quarter, compared to analysts’ expectations of $63.11 million. During the same period in the previous year, the firm posted ($0.68) earnings per share. The firm’s revenue was up 45.3% compared to the same quarter last year. equities research analysts predict that Hortonworks will post -2.98 earnings per share for the current fiscal year.

In other news, insider Shaun Connolly sold 13,644 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $16.43, for a total transaction of $224,170.92. Following the completion of the transaction, the insider now directly owns 251,685 shares in the company, valued at $4,135,184.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Reasoner sold 5,224 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $20.29, for a total value of $105,994.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 727,868 shares of company stock valued at $13,990,432. 22.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HDP. Schwab Charles Investment Management Inc. boosted its position in shares of Hortonworks by 19.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 244,427 shares of the software maker’s stock worth $3,149,000 after buying an additional 39,395 shares during the period. Rhumbline Advisers boosted its position in shares of Hortonworks by 19.5% during 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. Bank of New York Mellon Corp boosted its position in shares of Hortonworks by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 210,433 shares of the software maker’s stock worth $2,710,000 after buying an additional 28,781 shares during the period. Legal & General Group Plc boosted its position in shares of Hortonworks by 8.1% during the second quarter. Legal & General Group Plc now owns 11,149 shares of the software maker’s stock worth $144,000 after buying an additional 837 shares during the period. Finally, Comerica Bank acquired a new position in shares of Hortonworks during the second quarter worth approximately $1,216,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

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About Hortonworks

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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