Cloudera Cldr: Cloudera Shares

cloudera cldr: The stock opened down 38.5% from Wednesday's close, according to Market Watch. Unfortunately, we simply got this one wrong, wrote Bernstein's Zane Chrane, who lowered his rating on Cloudera shares to market perform from outperform. At least four analysts cut their ratings on the stock following the first-quarter report, arguing that it will take time for the company to turn its business around and that things could get worse for Cloudera CLDR, -2.11% before they improve. Our downgrade is based on what we believe is most likely accelerating structural headwinds from cloud vendor competition, with no visible catalysts for multiple expansion or upward revisions in the next three to six months. Given that slashed forecast comes just three months after Cloudera delivered its annual outlook in the first place, Chrane wonders if the company has sufficient visibility into customer intentions and/or market dynamics. Chrane argued that the company's reduction in its annual suggests the company expects a more than 50% reduction in new business. (news.financializer.com). As reported in the news.