The stock of Cloudera, Inc. (NYSE:CLDR) is now priced at $13.21 and the shares are 0.29 points up or 2.24% higher compared to its previous closing price of $12.92. CLDR shares have a float of 289 million and although its performance was 11.29% over the week, it’s one to watch. Analysts have given the CLDR stock a yearly average price target of $12.21 per share. It means the stock’s downside potential is -7.57% with the CLDR share price recently placing at $12.7716 to $13.44. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Cloudera, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CLDR shares have declined. Short interest in the stock represents just 6.85% of its float, but the volume has dropped by 0.
In the last trading session, Cloudera, Inc. (NYSE:CLDR) raised by $1.34 over the week and gained $1.7 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.93. The stock recorded its established 52-week high on 06/18/20.
Since 03/18/20, the stock has traded to a low of $4.76 at 177.52%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.97. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Cloudera, Inc.’s two-week RSI is 70.25. This suggests that the stock is oversold at the moment and that CLDR shares’ price movement remains not stable. The stochastic readings are equally revealing at 90.23% meaning the CLDR share price is currently in oversold territory.
The technical chart shows that the CLDR stock will likely settle at between $13.51 and $13.81 per share. However, if the stock dips below $12.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.47.
Currently, the stock is trading in the green of MACD, with a reading of 0.56. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Northland Capital cut their recommendation for CLDR from Outperform to Market Perform in June 09 review. Morgan Stanley analysts upgraded their recommendation of the stock from Equal-Weight to Overweight while keeping its target price at $14 in a flash note released to investors on June 03. JMP Securities seeing the improvements upgraded the stock from Mkt Perform to Mkt Outperform on September 05, placing it at $12.
The average rating for the CLDR equity is 2.82 and is currently gathering a bullish momentum. Of 17 analysts tracking Cloudera, Inc. polled by Reuters, 12 rated CLDR as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CLDR stock price is 31.68X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Cloudera, Inc. (NYSE:CLDR) will decrease by about -99.9%, which will see them reach $208 million. The company’s full-year revenues are, however, expected to increase by about 5.6%, up from $794 million to $839 million. CLDR’s expected adjusted earnings should drop almost -400% to end up at $0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -315.38% to record $0.28/share.