Teradata Corporation

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Investigation Details

On February 12, 2024, Teradata announced 4Q 2023 results and then reduced its estimated growth for the full year 2024. The Company blamed it on a combination of “on-premises customer attrition and Cloud deal delays.” Analysts commenting on the reduced estimates mention concern with Teradata converting customers to its cloud offerings and hitting the Company’s target of over $1 billion in public cloud annual recurring revenue by the end of 2025.

Following this news, Teradata’s stock price fell by $10.57 per share, or approximately 22% to close at $38.22 per share.