Technology

How Analysts View Cloudera Now That the Quiet Period Is Over

Chris Lange

Published: May 23, 2017 11:45 am

Last Updated: January 12, 2020 11:44 am

Cloudera Inc. (NYSE: CLDR) has seen a strong push higher since the company entered the market in late-April. The shares are pushing even higher on Tuesday following a flurry of analysts weighing in on the stock now that the quiet period has ended.

For the initial public offering (IPO), Cloudera priced its shares at $15, above the original expected pricing range of $12 to $14. Since that time, the stock has surged over 30% to the current price level.

The underwriters for offering were Morgan Stanley, JPMorgan, Allen, Merrill Lynch, Citigroup, Deutsche Bank Securities, Stifel, JMP Securities and Raymond James.

This company empowers organizations to become data‑driven enterprises in the newly hyperconnected world. Cloudera has developed the leading modern platform for data management, machine learning and advanced analytics.

Cloudera’s pioneering hybrid open source software (HOSS) model incorporates the best of open source with its robust proprietary software to form an enterprise‑grade platform. This platform delivers an integrated suite of capabilities for data management, machine learning and advanced analytics, affording customers an agile, scalable and cost-effective solution for transforming their businesses.

This company also has financial backing by Intel Corp. (NASDAQ: INTC). It’s worth noting that Intel bought a 17% stake three years ago, and a recent purchase still makes Intel’s investment underwater, according to a May 1 article in the Wall Street Journal.

It had about $261 million in sales last year, up about 57% from the prior year, but the company still lost $187 million last year, versus $203 million in the prior year.

Here’s what analysts were saying about Cloudera after the quiet period:

• JPMorgan initiated coverage with an Overweight rating and a $24 price target.
• Deutsche Bank started it as a Buy with a $25 price target.
• Stifel started it at Buy with a $24 price target.
• Citigroup initiated it with a Buy rating and a $23 price target.
• JMP Securities was the one firm with a Market Perform rating.

Shares of Cloudera were trading up over 2% at $21.43 on Tuesday, with a post-IPO trading range of $17.73 to $23.80.