Teradata Corp TDC:NYSE

Last Price$35.66NYSE Previous Close - Last Trade as of 7:00PM ET 5/20/22
NYSE 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$20.00 (10)
Ask (Size)$43.00 (2)
Day Low / HighN/A - N/A
Volume690.2 K

Research Alert: CFRA Raises Rating On Teradata Corporation To Buy From Hold

2:45PM ET 11/09/2021 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

TDC printed third quarter adj-EPS of $0.43 vs. $0.43, beating consensus by $0.10, aided by an increasing mix of recurring sales (+$0.02) and expense controls (+$0.05). Revenues were $460M (+1.3% Y/Y), versus consensus of $455M. The beat was driven by a higher recurring revenue (+6% Y/Y), which helped offset a lower number of on-premise deals that are recognized upfront under ASC 606. The company brought up its adj-EPS range to $2.11-$2.15 (vs. $1.92-$1.96) but trimmed its cloud annual recurring revenue (ARR) and was the key culprit of recent share pressure. While disappointing, deal slippage has been properly discounted into shares, with potential upward revisions ahead, given most transactions have been closed in fourth quarter and leads to today's upgrade. Our 12-month price target of $60 (from $55), 31.7x our 2022 EPS estimate of $1.89 (from $2.14), is grossly below other direct cloud-based data peers, and a culprit of its legacy heritage. We also boost our 2021 EPS estimate to $2.13 from $1.95.