UPDATE: Credit Suisse Downgrades Hortonworks (HDP) to Neutral Citing Balanced Risk/Reward
(Updated - January 16, 2018 5:39 AM EST)
(updated to add analyst comment)
Credit Suisse downgraded Hortonworks (NASDAQ: HDP) from Outperform to Neutral with a price target of $23.00 (from $20.00).
Analyst Brad Zelnick comments "...we believe the risk/reward profile is balanced at current levels. Since September 5 the stock has outperformed the IGV Software Index by 11%, and valuation is now more in line with nearest comp CLDR. While we believe in Hortonworks’ broad enterprise data platform opportunity, we also appreciate the risks in ascending to become a more strategic provider to its customers."
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 $21.34 Friday.