Investing
Some Analysts Still See Big Upside in Hortonworks After Earnings
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Hortonworks Inc. (NASDAQ: HDP) reported its fourth-quarter earnings this past week and analysts were not exactly pleased with the results. In fact, many analysts ended up cutting their price targets on the stock, despite having a positive outlook.
24/7 Wall St. has taken into account the analysts’ reactions to the earnings and put together a montage of the calls made following the report. We also have included some highlights from the earnings report.
The company had a net loss of $0.72 per share on $37.4 million in revenue. The consensus estimates called for a net loss of $0.80 per share on revenue of $36.1 million.
Rob Bearden, CEO and chairman of the board of directors of Hortonworks, commented on earnings:
We are pleased with our fourth quarter performance, which was highlighted by support subscription revenue growth of 146% year-over-year. We more than doubled our customer base in 2015 and exited the year with over 800 customers. As evidenced by our 159% dollar-based net expansion rate over the trailing four quarters, we are excited to serve as the preferred IT partner during this transformational period in the data management industry.
Shares of Hortonworks closed Friday at $8.43, with a consensus analyst price target of $21.61 and a 52-week trading range of $7.12 to $28.91.
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