These Analysts Cut Their Forecasts On Teradata Following Q2 Results
Portfolio Pulse from Avi Kapoor
Teradata Corporation (NYSE:TDC) reported mixed Q2 results, beating earnings estimates but missing on sales. The company announced a restructuring plan to reduce its global workforce by 9-10%. Despite strong growth in Cloud ARR, shares fell 12% to $25.66. Multiple analysts lowered their price targets for Teradata.
August 06, 2024 | 4:19 pm
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Teradata reported mixed Q2 results, beating earnings estimates but missing on sales. The company announced a restructuring plan to reduce its global workforce by 9-10%. Despite strong growth in Cloud ARR, shares fell 12% to $25.66. Multiple analysts lowered their price targets for Teradata.
The mixed Q2 results, combined with a significant workforce reduction and a 12% drop in share price, indicate negative short-term sentiment. Multiple analysts lowering their price targets further supports a likely downward pressure on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100