Hortonworks (HDP) PT Cut to $8 at Cowen on Weak Q2, Outlook
- Wall Street hits record high for third day in a row
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Exclusive: Japan's TDK in talks to buy iPhone supplier InvenSense - sources
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Cowen analyst J. Derrick Wood reiterated an Market Perform rating and cut his price target on Hortonworks (NASDAQ: HDP) to $8.00 (from $11.00) following weak Q2 results and guidance.
Wood commented, "While the 2Q miss/guide-down was labeled as an execution issue that can be addressed with more sales coverage, there are a number of developments that have elevated our concerns around the sustainability of HDP's pure open-source model. With the stock down sharply AH and the potential to look for a strategic alternative, we remain Market Perform but lower PT to $8."
Shares of Hortonworks closed at $12.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Restoration Hardware (RH) PT Cut to $30 at Cowen
- BMO Capital Raises Price Target on Dollar Tree (DLTR) to $96; Reiterates Market Perform
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!