Cloudera hits record low on Wells' CDP doubts

May 23, 2019 8:37 AM ETCloudera, Inc. (CLDR)CLDRBy: Brandy Betz, SA News Editor31 Comments
  • Update with more information from the downgrade:
  • Wells analyst Philip Winslow warns that adoption of the Cloudera Data Platform could take longer than expected with engineers and customers at DataWorks Summit saying that testing and migration are slowed due to updates.
  • Cloudera shares fell as much as 11% today, hitting a new record low.
  • Original post: Wells Fargo downgrades Cloudera (NYSE:CLDR) from Outperform to Market Perform and lowers the PT from $20 to $12.50, implying a 16% upside.
  • Cloudera will report earnings on June 5. Consensus estimates expect $188.44M in revenue with a loss per share of $0.23.
  • Cloudera shares are down 2.6% pre-market $10.47.
  • CLDR has a Bearish Quant rating, Bullish average SA Authors' rating, and Outperform Sell Side rating.

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