Pacific Crest Downgrades Hortonworks (HDP) to Sector Weight
- Wall St. falls as earnings from some big names disappoint
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Pacific Crest downgraded Hortonworks (NASDAQ: HDP) from Overweight to Sector Weight and removed its price target. Analyst Brent Bracelin said its billings shortfall elevates execution risks.
"The $6.2 million billings shortfall, coupled with the departure of the president, adds a significant amount of execution risk to management's goal of reaching adjusted EBITDA breakeven by year end. We are downgrading our rating to Sector Weight to reflect increasing company-specific risk and limited confidence that the internal challenges can be fixed in one quarter," said Bracelin.
Shares of Hortonworks closed at $12.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades VF Corp. (VFC) to Hold
- UBS Cuts Price Target on V.F. Corp. (VFC) to $59; Reiterates Buy
- Visa (V) PT Trimmed to $93 at Stifel With Initial 2017 Guidance a Touch Light
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesPacific Crest Securities
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!