Hortonworks (HDP) PT Cut to $8 at Cowen on Weak Q2, Outlook

August 5, 2016 7:42 AM EDT
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Price: $9.03 +2.03%

Rating Summary:
    12 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 19 | New: 11
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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."

For an analyst ratings summary and ratings history on Hortonworks click here. For more ratings news on Hortonworks click here.

Shares of Hortonworks closed at $12.63 yesterday.

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