Northland Securities analyst Tim Klasell maintained a Buy rating on Cloudera Inc (CLDR) today and set a price target of $12. The company’s shares closed last Monday at $7.21, close to its 52-week low of $4.89.
Klasell commented:
“We continue to believe the company offers a solid, modern data platform for large organizations and will be able to sustain mid-teens growth and 20% plus margins.”
According to TipRanks.com, Klasell is a 5-star analyst with an average return of 17.3% and a 64.7% success rate. Klasell covers the Technology sector, focusing on stocks such as Tyler Technologies, Zix Corporation, and Proofpoint Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cloudera Inc with a $8.63 average price target, representing a 18.2% upside. In a report released today, JMP Securities also upgraded the stock to Buy with a $12 price target.
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Based on Cloudera Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $103 million. In comparison, last year the company had a GAAP net loss of $33.38 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLDR in relation to earlier this year.
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Cloudera, Inc. engages in the provision of enterprise-grade, global data management platforms, services and solutions. It offers enterprise data hub, data warehouse, sata science and engineering, operational database, Cloudera DataFlow (CDF), Hortonworks Data Platform (HDP), and data science workbench. It operates through Subscription, and Services segments.
