RBC Capital lowered the firm’s price target on Teradata to $44 from $48 and keeps a Sector Perform rating on the shares. The company delivered a mixed quarter with good performance in revenue, recurring revenue, and profitability, while its cloud and total annual recurring revenue fell short of expectations, the analyst tells investors in a research note. The cloud miss was attributed to a “couple million dollars” that came in lower than expected, though Teradata management feels good about the cloud pipeline, the firm added.
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