Hortonworks (HDP): Expect In Line Quarter - Drexel Hamilton

Drexel Hamilton analyst, Brian White, reiterated his Buy rating on shares of Hortonworks (NASDAQ: HDP) along with his price target of $30 ahead of earnings on Thursday. The analyst believes Hortonworks will slightly exceed his 2Q:16 revenue estimate of $45.5 million (up 52% YoY; Street is at $45.2 million) and meet the loss per share projection of $0.64 (Street is at a loss per share of $0.68). The 2Q:16 sales forecast represents 10% QoQ growth, below the average 19% uptick over the past three years. Hortonworks' 2Q:16 outlook calls for sales of $45.0 million.

For 2Q:16, he is forecasting support subscription sales of $31.2 million (up 73% YoY) and professional services revenue of $14.3 million (up 20%). He is modeling 2Q:16 billings of $62.5 million (up 49% YoY) and inline with the company's outlook.

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 $11.71 yesterday.

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