Hortonworks (NASDAQ:HDP) Receives “Buy” Rating from Royal Bank of Canada

Hortonworks (NASDAQ:HDP)‘s stock had its “buy” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Wednesday, December 20th. They presently have a $23.00 target price on the software maker’s stock. Royal Bank of Canada’s price objective points to a potential upside of 7.78% from the stock’s current price.

Several other research firms have also recently weighed in on HDP. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price objective on shares of Hortonworks in a research report on Tuesday, December 12th. BidaskClub raised Hortonworks from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Drexel Hamilton reissued a “buy” rating and set a $26.00 target price on shares of Hortonworks in a report on Monday, November 6th. Zacks Investment Research raised Hortonworks from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, November 7th. Finally, Credit Suisse Group initiated coverage on Hortonworks in a report on Tuesday, September 5th. They set an “outperform” rating and a $20.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Hortonworks currently has an average rating of “Buy” and a consensus target price of $21.92.

Hortonworks (NASDAQ:HDP) traded up $0.51 on Wednesday, reaching $21.34. The company had a trading volume of 931,589 shares, compared to its average volume of 614,935. Hortonworks has a twelve month low of $8.74 and a twelve month high of $22.00. The company has a market cap of $1,510.00, a PE ratio of -6.33 and a beta of 1.66.

Hortonworks (NASDAQ:HDP) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $69.00 million during the quarter, compared to the consensus estimate of $63.11 million. During the same quarter last year, the company posted ($0.68) EPS. The firm’s revenue was up 45.3% on a year-over-year basis. sell-side analysts predict that Hortonworks will post -2.98 EPS for the current year.

In other Hortonworks news, insider Scott Davidson sold 49,539 shares of Hortonworks stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $20.74, for a total value of $1,027,438.86. Following the completion of the sale, the insider now directly owns 936,011 shares in the company, valued at $19,412,868.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott Reasoner sold 2,364 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $16.43, for a total value of $38,840.52. Following the completion of the sale, the insider now directly owns 249,321 shares of the company’s stock, valued at approximately $4,096,344.03. The disclosure for this sale can be found here. Insiders sold 777,406 shares of company stock valued at $15,043,645 over the last quarter. Corporate insiders own 22.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. grew its stake in Hortonworks by 0.8% in the second quarter. Macquarie Group Ltd. now owns 98,826 shares of the software maker’s stock valued at $1,273,000 after acquiring an additional 750 shares during the period. Legal & General Group Plc grew its stake in Hortonworks by 8.1% in the second quarter. Legal & General Group Plc now owns 11,149 shares of the software maker’s stock valued at $144,000 after acquiring an additional 837 shares during the period. Rock Point Advisors LLC boosted its position in shares of Hortonworks by 0.3% during the second quarter. Rock Point Advisors LLC now owns 353,430 shares of the software maker’s stock valued at $4,552,000 after buying an additional 965 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Hortonworks by 1.4% during the second quarter. California State Teachers Retirement System now owns 84,780 shares of the software maker’s stock valued at $1,092,000 after buying an additional 1,200 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Hortonworks by 15.9% during the second quarter. UBS Asset Management Americas Inc. now owns 12,400 shares of the software maker’s stock valued at $160,000 after buying an additional 1,700 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Hortonworks (NASDAQ:HDP)

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