In a report released yesterday, Jennifer Redding from Wedbush initiated coverage with a Hold rating on Cloudera Inc (NYSE: CLDR) and a price target of $17. The company’s shares opened today at $14.81.
According to TipRanks.com, Redding is a 2-star analyst with an average return of 2.4% and a 25.0% success rate. Redding covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Verint Systems Inc.
Currently, the analyst consensus on Cloudera Inc is a Moderate Buy with an average price target of $23, which is a 55.3% upside from current levels. In a report issued on October 4, Deutsche Bank also maintained a Hold rating on the stock with a $22 price target.
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Based on Cloudera Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $33.38 million. In comparison, last year the company had a GAAP net loss of $64.23 million.
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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.
