Drexel Hamilton Reiterates Buy on Hortonworks (HDP) Following Solid 3Q
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Drexel Hamilton reiterated a Buy rating and $18.00 price target on Hortonworks (NASDAQ: HDP) following the company's 3Q earnings report. Hortonworks reported sales of $47.5 million, which beat the Street's estimate of $45.1 million. Loss per share of $0.68 compared to the consensus of negative $0.66.
Analyst Brian White commented, "Last night, Hortonworks reported better than expected 3Q:16 results and a solid 4Q:16 outlook that we believe will lift the company's stock out of its depressed funk. We are adjusting our estimates and maintaining our 12- month price target of $18.00."
Shares of Hortonworks closed at $6.57 yesterday.
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