Cloudera reported better than expected fiscal Q3 results and guided well to Q4, JMP Securities analyst Patrick Walravens tells investors in a post-earnings research note. He boosted his price target for the shares to $15 from $12 and keeps an Outperform rating on the name. Cloudera in early trading is up 7%, or 70c, to $10.71. The company’s sales execution improvements are continuing and its new open source licensing and distribution framework is starting to positively impact customer behavior, contends the analyst. Walravens thinks the valuation of Cloudera remains attractive.
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