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HDP

Hortonworks

$7.46

-1.24 (-14.25%)

, TLND

Talend

$22.22

-0.41 (-1.81%)

10:44
10/13/16
10/13
10:44
10/13/16
10:44

Goldman says sell Hortonworks, buy Talend as move to cloud accelerates

Goldman Sachs downgraded Hortonworks (HDP) to Sell from Buy and upgraded Talend (TLND) to Buy from Hold, citing the impact of the cloud's growth. TWO NOTCH DOWNGRADE: The transfer of analytics workloads to the cloud is beginning to significantly accelerate, and this development will probably increase competition in the space, harming Hortonworks, wrote Goldman analyst Jesse Hulsing. Moreover, the consensus billings outlook for the company implies that its employee productivity will increase significantly, but its productivity has been declining, and recent changes to its sales leadership could also hurt, Hulsing believes. If Hortonworks' billings come in below the consensus outlook, the company's multiple may continue to be pressured, and its attainment of break even free cash flow could be delayed, the analyst wrote. He slashed his price target on the shares to $7 from $13. TALEND: Talend is "uniquely" positioned to benefit from the faster than expected transfer of analytic workloads to the cloud, wrote Hulsing. The company's technology enables users to exploit commodity processing and elasticity, the analyst stated. Moreover, its pricing is not tied to the size of data workloads, making it appealing as workloads grow, Hulsing believes. Talend's stock has dropped 16% over the last month, partly due to the weakness of the British pound, and the decline has been overdone, according to the analyst. Hulsing says that Talend's subscription base can increase over 30% through fiscal 2018, while its free cash flow is positive and it's now undervalued versus its peers. He kept a $31 price target on the shares. PRICE ACTION: In early trading, Hortonworks dropped 4.75% to $7.11 and Talend jumped 9% to $24.21.

HDP

Hortonworks

$7.46

-1.24 (-14.25%)

TLND

Talend

$22.22

-0.41 (-1.81%)

  • 03

    Nov

  • 10

    Nov

  • 14

    Nov

HDP Hortonworks
$7.46

-1.24 (-14.25%)

08/05/16
NEED
08/05/16
DOWNGRADE
NEED
Hold
Hortonworks downgraded to Hold at Needham
As previously reported, Needham analyst Richard Kugele downgraded Hortonworks to Hold from Buy following a slight miss in Q2 and lower guidance. The analyst says he is "stepping aside" as the company works through its sales issues.
08/08/16
RSBL
08/08/16
INITIATION
Target $20
RSBL
Buy
Hortonworks initiated with a Buy at Rosenblatt
Rosenblatt analyst Marshall Senk initiated Hortonworks with a Buy and $20 price target saying the combination of high renewal rates and customer revenue growth will serve to drive the P&L toward profitability over the next few years.
09/30/16
COWN
09/30/16
NO CHANGE
COWN
Hortonworks checks 'concerning,' quarter at risk, says Cowen
Cowen analyst J. Derrick Wood said his checks suggest there have been many high-level employee departures at Hortonworks (HDP) and he also thinks that sales productivity is constrained, presenting risk to its quarterly results. Meanwhile, he said that his checks on Teradata (TDC) remain constructive, noting that he is hearing the company is already signing orders for cloud with its core analytical database products now available on AWS. There are "some encouraging data points" for Tableau (DATA), said Wood, who added that he still has more field work to do around its quarter.
10/13/16
GSCO
10/13/16
DOWNGRADE
Target $7
GSCO
Sell
Hortonworks downgraded to Sell from Buy at Goldman
Goldman analyst Jesse Hulsing downgraded Hortonworks two notches to Sell from Buy and lowered its price target to $7 from $13. The analyst his previous thesis of sustained growth from ongong Hadoop adoption and improved efficiency due to higher mix of expansions was wrong. He expects increased competition for new analytics workloads from cloud services vendors will challenge Hortonworks' pure open source business model and is concerned that FY17 Street billings estimates are too high.
TLND Talend
$22.22

-0.41 (-1.81%)

08/26/16
WBLR
08/26/16
NO CHANGE
WBLR
Outperform
Investor confusion responsible for Talend pullback, says William Blair
William Blair analyst Bhavan Suri believes Talend delivered "solid" results in its first report as a public company, noting that all its metrics came in ahead of the firm's expectations and above the high end of the preliminary ranges provided in the IPO process. However, Suri attributes the post-earnings pullback in the stock to possible confusion on share count and net income guidance, explaining that consensus mismodeled the company's IFRS share count for the quarter by almost 20M shares, which made its EPS appear to be below expectations even though its net income was above the firm's estimate and at the company's preliminary range. Suri keeps an Outperform rating on Talend, citing its "healthy" Big Data and Cloud momentum.
09/26/16
RSBL
09/26/16
INITIATION
Target $30
RSBL
Buy
Talend initiated with a Buy at Rosenblatt
Rosenblatt analyst Marshall Senk initiated Talend with a Buy and a $30 price target.
10/13/16
GSCO
10/13/16
UPGRADE
GSCO
Buy
Talend upgraded to Buy from Neutral at Goldman
Goldman analyst Jesse Hulsing upgraded Talend to Buy and maintained its $31 price target saying the company will benefit from analytic workloads moving to the cloud. Hulsing said Talend is well positioned to benefit from this trend given its technology approach that allows users to take advantage of commodity processing and elasticity and a pricing model that is not tied to core growth. The analyst views the recent share pullback as a buying opportunity for a company with 30%+ subscription growth.
10/13/16
10/13/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Merck (MRK) upgraded to Buy from Neutral at BofA/Merrill with analyst Colin Bristow citing its opportunity in first line lung cancer. 2. Viacom (VIA, VIAB) upgraded to Market Perform from Underperform at Wells Fargo and to Buy from Underperform at BofA/Merrill. 3. TD Ameritrade (AMTD) and Charles Schwab (SCHW) were upgraded to Buy from Neutral at BofA/Merrill. 4. Talend (TLND) upgraded to Buy from Neutral at Goldman with analyst Jesse Hulsing saying the company will benefit from analytic workloads moving to the cloud. 5. CSC (CSC) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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