Cloudera (NASDAQ:CLDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Cloudera, Inc. develops and distributes software for business data which include storage, access, management, analysis, security, search, processing and analysis applications. Its products include Cloudera Enterprise Data Hub, Cloudera Analytic BD, Cloudera Operational DB, Cloudera Data Science & Engineering and Cloud Essentials. Cloudera, Inc. is headquartered in Palo Alto, California. “

Several other research analysts have also commented on CLDR. Stifel Nicolaus initiated coverage on Cloudera in a research report on Tuesday, May 23rd. They issued a “buy” rating and a $24.00 price target for the company. J P Morgan Chase & Co initiated coverage on shares of Cloudera in a research note on Tuesday, May 23rd. They issued an “overweight” rating and a $24.00 price objective for the company. Deutsche Bank AG initiated coverage on shares of Cloudera in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $25.00 price objective for the company. JMP Securities initiated coverage on shares of Cloudera in a research note on Tuesday, May 23rd. They issued a “market perform” rating for the company. Finally, Morgan Stanley reissued a “hold” rating and issued a $20.00 price objective on shares of Cloudera in a research note on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Cloudera currently has an average rating of “Hold” and a consensus target price of $22.86.

Cloudera (NASDAQ CLDR) traded down 0.06% during midday trading on Wednesday, hitting $17.29. The stock had a trading volume of 275,625 shares. The company’s market capitalization is $2.27 billion. The stock’s 50-day moving average is $17.14 and its 200-day moving average is $18.74. Cloudera has a 1-year low of $15.40 and a 1-year high of $23.35.

Cloudera (NASDAQ:CLDR) last released its quarterly earnings results on Thursday, June 8th. The company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.09. The company had revenue of $79.60 million during the quarter, compared to analysts’ expectations of $75.85 million. Equities research analysts forecast that Cloudera will post ($1.05) EPS for the current year.

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Hedge funds have recently made changes to their positions in the company. Peregrine Capital Management LLC purchased a new stake in shares of Cloudera during the second quarter valued at about $12,932,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Cloudera during the second quarter valued at about $276,000. Spark Investment Management LLC purchased a new stake in shares of Cloudera during the second quarter valued at about $1,036,000. Emerald Advisers Inc. PA purchased a new stake in shares of Cloudera during the second quarter valued at about $5,706,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Cloudera during the second quarter valued at about $4,648,000.

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Analyst Recommendations for Cloudera (NASDAQ:CLDR)

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