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Why Cloudera Stock Jumped Today

TheMotleyFool

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Shares of Cloudera (NYSE: CLDR) have jumped today, up by 10% as of 3 p.m. EDT, after receiving an upgrade from Wall Street. The stock is now trading at 52-week highs.

Morgan Stanley boosted its rating on Cloudera from equal weight (equivalent to a neutral) to overweight (equivalent to a buy), and analyst Sanjit Singh increased his price target from $8 to $14. The business is starting to stabilize following its merger with Hortonworks, which closed in January 2019, and the company can now focus on product development.

Image source: Cloudera.

Source Fool.com

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