Cloudera (NYSE:CLDR) Downgraded to Underperform at Bank of America

Cloudera (NYSE:CLDR) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, June 6th, The Fly reports.

Several other research firms have also recently weighed in on CLDR. Zacks Investment Research cut shares of Cloudera from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Needham & Company LLC dropped their target price on shares of Cloudera from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Thursday, March 14th. They noted that the move was a valuation call. Citigroup cut shares of Cloudera from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $7.50 in a report on Thursday, June 6th. Wedbush dropped their price target on shares of Cloudera from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Finally, Barclays dropped their price target on shares of Cloudera from $14.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.07.

Shares of NYSE CLDR opened at $5.26 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.15. Cloudera has a 52 week low of $4.89 and a 52 week high of $20.18. The business has a fifty day moving average price of $7.82. The stock has a market capitalization of $1.45 billion, a P/E ratio of -4.61 and a beta of 1.68.

Cloudera (NYSE:CLDR) last issued its earnings results on Wednesday, June 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.24. The company had revenue of $187.50 million for the quarter, compared to the consensus estimate of $188.44 million. Cloudera had a negative net margin of 44.35% and a negative return on equity of 24.15%. The firm’s revenue for the quarter was up 81.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. As a group, equities analysts predict that Cloudera will post -0.98 EPS for the current year.

In other news, Director Kimberly Hammonds sold 7,686 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.73, for a total transaction of $44,040.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Cloudera by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 484,239 shares of the company’s stock worth $8,547,000 after purchasing an additional 57,588 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Cloudera by 112.7% during the fourth quarter. Bank of Montreal Can now owns 3,672 shares of the company’s stock worth $41,000 after purchasing an additional 1,946 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Cloudera by 10.7% during the fourth quarter. IFP Advisors Inc now owns 8,000 shares of the company’s stock worth $87,000 after purchasing an additional 770 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Cloudera by 48.4% during the fourth quarter. Rhumbline Advisers now owns 138,553 shares of the company’s stock worth $1,532,000 after purchasing an additional 45,179 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Cloudera by 29.3% during the fourth quarter. First Mercantile Trust Co. now owns 9,186 shares of the company’s stock worth $102,000 after purchasing an additional 2,082 shares in the last quarter. 74.44% of the stock is owned by institutional investors.

About Cloudera

Cloudera, Inc provides a suite of data analytics and management products in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. It offers Cloudera Enterprise Data Hub that allows companies to execute various analytic functions against a shared set of governed and secures data in public and private clouds, and data centers; Cloudera Data Warehouse, a hybrid cloud solution for self-service analytics; Cloudera Data Science and Engineering enables users to streamline, simplify, and scale big data processing; and Cloudera Operational DB that enables stream processing and real-time analytics on continuously changing data.

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