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 Cloudera Inc. (CLDR): Latest Results Show Potential

It has just been announced that Cloudera Inc. ( NYSE: CLDR ), a provider of data processing solutions, has released a strong quarterly report. Clodera Inc. has sold its business to KKR & Co. and Clayton Dubilier & Rice LLC.

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As a result of this news event, Cloudera Inc. (NYSE: CLDR) grew by 23.87 % and closed at $ 15.93 on June 1. Stock volume remained high at 71.33 million shares, substantially above the average daily volume of 4.48 million shares over the last 50 days. CLDR shares have risen by 45.35 percent in the past year, and they have climbed 26.33% this week. The stock declined by -1.91% over the past three months, while it gained by 35.57% over the past six months. Moreover, the company holds 303.53 million outstanding shares, and its current market cap is $4.68 billion.

Cloudera’s strong business performance and the company’s results for the quarter of April 30, 2021, are presented. The company’s total revenue increased by 7 % YoY to $ 224.3 million. Recurring AAR revenue increased by 12 %. The GAAP loss per share has decreased to $0.14. Additionally, Cloudera has purchased several companies, including data integration tool provider Datacoral and cloud technology provider Cazena.

Cloudera, on the other hand, is leaving the public market. It was approved by the board to be sold to private ownership for approximately $ 4.7 billion. Over the previous session, the deal implied a 24 % premium. Shareholders of CLDR will receive $ 16 for each share.

Cloudera Inc.’s ( NYSE: CLDR ) sale has implications for the IT services market, as many major cloud providers are partners of Cloudera, such as Amazon, Alphabet, and Microsoft. The company recently partnered with NVIDIA. A recent deal highlights the growing demand for cloud technologies as a result of the COVID-19 pandemic. It’s a global trend for organizations to move to the cloud – to remote servers and distributed networks. Therefore, service providers will receive more attention from investors.

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