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Needham retrograde Cloudera (NYSE: CLDR) from Strong Buy to keep after the earnings release yesterday.
The company considers the first quarter a true catalyst for the thesis because of the lack of clarity in the launch of the new Cloudera data platform, the alarming rise in the number of customers and the resignation of General Manager Tom Reilly.
At best, Needham thinks that Cloudera will take several quarters to rebuild its credibility and that the financial impact of the data platform will be obvious.
Cloudera has announced forecasts for the first quarter and lower revenues for the second quarter and fiscal year 2010.
The actions of the CLDR are down 36% before marketing at $ 5.62.
Cloudera has a very bearish Quant rating and an Outperform Sell Side rating.
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