Mizuho Securities Remains Bullish on Hortonworks (HDP) Following 4Q - PT to $18
Mizuho Securities maintained a Buy rating on Hortonworks (NASDAQ: HDP), and cut the price target to $18.00 (from $25.00), following the company's 4Q earnings report. HDP reported revenues of $37.4mm, vs. consensus of $35.6mm and preannouncement of $37-38mm.
Analyst Abhey Lamba commented, "HDP reported results inline with pre-announcement. The company pulled forward its timeline for turning adjusted EBITDA break-even. While appetite for cash flow negative names is low, we think HDP has strong momentum in the field and its multiple (below 2x sales) is attractive. We continue to view it as a good strategic asset over time and are reiterating our Buy rating but cutting our PT to $18 from $25 due to recent market moves."
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Shares of Hortonworks closed at $7.83 yesterday.