Citi Starts Cloudera (CLDR) at Neutral

Citi initiates coverage on Cloudera (NYSE: CLDR) with a Neutral rating and a price target of $23.00.

Analyst Walter Pritchard said while they see upside to near-term estimates giving shares upward bias, they see many paths the large “Big Data Platform” market can take.

Pritchard said initially, opportunity is concentrated in larger companies where Cloudera has strong initial lead. However, over time, big data embedded in cloud offerings will broaden adoption in an area Cloudera is not as strong.

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

Shares of Cloudera closed at $20.91 yesterday.

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