Mizuho Securities Remains Sidelined on Hortonworks (HDP) Following Analyst Meeting
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Mizuho Securities reiterated a Neutral rating and $10.00 price target on Hortonworks (NASDAQ: HDP) following the company's analyst meeting. Management indicated that it is experiencing competition from Amazon, IBM and Hortonworks.
Analyst Abhey Lamba commented, "Cloudera's Financial Community Meetup highlighted continued momentum in the space. We attended Cloudera's analyst meeting last week and walked away comfortable with the underlying growth in the Hadoop space. The company seems to be doing well as it expanded its customer base by over 40% (700+ to 1000+) in the last year while its net dollar expansion rates remains ~140% even amongst some of its largest and oldest customers. Cloudera has expanded its focus from G2000 companies to G8000 organizations and is investing to expand internationally as well."
Shares of Hortonworks closed at $8.35 yesterday.
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