Northland Securities Believes Hortonworks (NASDAQ: HDP) Won’t Stop Here

By Austin Angelo

Northland Securities analyst Tim Klasell reiterated a Buy rating on Hortonworks (NASDAQ: HDP) today and set a price target of $24. The company’s shares closed on Friday at $13.32, close to its 52-week high of $14.07.

According to TipRanks.com, Klasell is a 5-star analyst with an average return of 15.9% and a 69.2% success rate. Klasell covers the Technology sector, focusing on stocks such as Tyler Technologies, CommVault Systems, and Jive Software Inc.

Hortonworks has an analyst consensus of Moderate Buy, with a price target consensus of $18.33.

Based on Hortonworks’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $55.97 million and GAAP net loss of $54.84 million. In comparison, last year the company earned revenue of $43.64 million and had a GAAP net loss of $64.2 million.

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Hortonworks, Inc. provides and contributes Apache Hadoop data platform. Its Data Platform provides an open platform that deeply integrates with existing IT investments and upon which enterprises can build and deploy Hadoop-based applications. The company was founded by Robert Bearden, Alan F. Gates, Arun C.