Hortonworks Price Target Raised At Wunderlich After IBM Partnership

By Caitlin Huston Markets MarketWatch Pulse

Wunderlich analysts raised their price target on Hortonworks Inc. to $18 from $15 Wednesday after the company expanded its partnership with International Business Machines Corp. on machine learning. The partnership will extend machine learning capabilities to more designers using Apache Hadoop, the software used by Hortonworks. This should strengthen its competitive position against Cloudera Inc. , which recently went public. Additionally, the analysts say the fact that HortonWorks remains 100% open-source gives it an edge over the competition in terms of partnerships. The analysts estimate that Hortonworks will have revenue of at least $20 million in 2018. They reiterated a buy rating on the stock. Shares of Hortonworks were falling 2% Wednesday morning. Shares of Hortonworks have gained 40% in the past three months, compared to the S&P 500's gain of 3%.

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