Oppenheimer Sticks to Its Hold Rating for Cloudera Inc (CLDR)

By Ryan Adsit

Oppenheimer analyst Ittai Kidron maintained a Hold rating on Cloudera Inc (CLDRResearch Report) today. The company’s shares closed yesterday at $14.61.

Kidron commented:

“Cloudera reported revenue of $144.5M and a loss of $0.15/sh (ASC606), while guiding for FY20 sales of $835-855M (incorporating merger-related uncertainties). Positively, management highlighted that the key merger-related decisions/activities have been completed (strategy/product review, account assignments, etc.) with the focus now on execution and realizing the greater operating leverage, product road- map strengths (the new and go-to-market efficiencies (deeper coverage, cross-selling, better channel relationships, etc.). Management also set expectations for at least 20% ARR growth in FY21. We’re positive on the scale/ product potential and growing enterprise and >$100K ARR customer base, though we see a high execution bar and remain on the sidelines looking for clearer merger- driven gains. Maintain Perform, reflecting a balanced risk/reward outlook.”

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 28.8% and a 70.3% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, New Relic Inc, and Alteryx Inc.

Currently, the analyst consensus on Cloudera Inc is a Moderate Buy with an average price target of $17.60, a 20.5% upside from current levels. In a report issued on March 11, Barclays also initiated coverage with a Hold rating on the stock with a $16 price target.

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The company has a one-year high of $22.43 and a one-year low of $10.07. Currently, Cloudera Inc has an average volume of 3.24M.

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Cloudera, Inc. provides enterprise data management solutions for machine learning and advanced analytics. It operates through two segments: Subscription and Services. The company’s products include enterprise, analytical, and operational data hubs, and data science & engineering.