Hortonworks Lands the 2020 Census: What It Means for Investors
Hortonworks (NASDAQ: HDP) is an interesting company for growth investors, as it is very small but nevertheless works with very big enterprises and even bigger amounts of data. The company is one of four leading vendors of Hadoop, the open-sourced Apache software platform that allows businesses to mine and process vast sums of data. The company has partnered with most major enterprise software and cloud vendors such as Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and more recently, inked a strategic partnership with a rejuvenated IBM (NYSE: IBM).
While thrown out of favor last year, Hortonworks stock has found its groove, doubling in price over the past twelve months. After a lot of hype about the Hadoop market and then a subsequent sell-off on fears the market wasn't developing as planned, Hadoop seems to be gaining more and more traction as enterprises look for new ways to mine more of their data, with both Hortonworks and competitor Cloudera (NYSE: CLDR) posting subscription revenue growth over 40%.
The stock is up over 120% this year. A recent jump was caused by the news that Hortonworks landed the contract for the next U.S. census in 2020. JMP securities analyst Greg McDowell predicted the win before it was confirmed in the companies earnings call. McDowell's channel checks indicated Hortonworks may have won an $8.1 million contract from the Department of Commerce. This would be Hortonworks' largest contract to date.
Source: Fool.com
