Jim Cramer Doesn't Believe Cloudera Has a Buyer
Is Cloudera for sale?
Bloomberg reported Tuesday that the enterprise software firm is fielding takeover offers, including from private equity firms, although no deal has been reached.
Cloudera, which sells cloud services for data management and analysis, reported first-quarter results after the bell that topped revenue and earnings estimates but issued a lukewarm sales outlook for both the current quarter and the full fiscal year.
Cloudera's largest shareholder is activist investor Carl Icahn via his company, the Icahn Group. Icahn and his affiliates built their stake in Cloudera to roughly 18% in 2019, fueling speculation that Icahn might eventually push for a sale, significant cost cuts or some type of strategic restructuring.
For its fiscal year, which ends January 2021, Cloudera guided for revenue of $825 million to $845 million, lower than its original full-year forecast of between $860 million to $880 million. Analysts polled by FactSet were modeling sales of $862.3 million on average.
Jim Cramer just doesn't believe that Cloudera has a buyer, unless someone is being "stupid." Catch his reasoning in the video above.
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