Hortonworks Receives a Buy from Rosenblatt Securities

By Austin Angelo

In a report released yesterday, Marshall Senk from Rosenblatt Securities reiterated a Buy rating on Hortonworks (NASDAQ: HDP), with a price target of $25. The company’s shares closed yesterday at $16.94.

Senk noted:

“We believe that HDP has been under unwarranted pressure since earnings were reported due to investor concerns regarding both broader market demand and timing issues around billings. We believe investors should be looking through these factors as they don’t reflect the strength in the current business. We believe the pipeline remains robust, new products such as Data Plane are gaining traction and HDF continues to be a key differentiator in the open source marketplace.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 27.5% and a 79.7% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Carbonite Inc, and Synacor Inc.

Hortonworks has an analyst consensus of Moderate Buy, with a price target consensus of $22.83.

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Based on Hortonworks’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $42.06 million. In comparison, last year the company had a GAAP net loss of $54.84 million.

Based on the recent corporate insider activity of 121 insiders, corporate insider sentiment is negative on the stock.

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Hortonworks, Inc. specializes in open-source global data management solutions. Its platforms allows enterprises to manage their data on a globally, whether it is data-in-motion or data-at-rest.