Teradata Corp.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Teradata Corp. |
Ticker: | Ticker: TDC |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Teradata Corp. (“Teradata” or the “Company”) (NYSE:TDC). The investigation concerns whether Teradata and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On February 12, 2024, Teradata released its fourth quarter and full year 2023 financial results, revealing cloud and total annual recurring revenue falling short of the Company’s original 2023 outlook due to “timing issues” which led “a handful of large deals” that got pushed back into 2024. Teradata also indicated that it was seeing significant declines for its on-premise solutions. Additionally, earnings per share estimates were projected to be between $2.15 and $2.31 per share, coming in below analysts’ estimates of $2.37. On this news, the price of Teradata shares declined by $10.57 per share, or approximately 21.7%, from $48.79 per share on February 12, 2024 to close at $38.22 on February 13, 2024.
On February 12, 2024, Teradata released its fourth quarter and full year 2023 financial results, revealing cloud and total annual recurring revenue falling short of the Company’s original 2023 outlook due to “timing issues” which led “a handful of large deals” that got pushed back into 2024. Teradata also indicated that it was seeing significant declines for its on-premise solutions. Additionally, earnings per share estimates were projected to be between $2.15 and $2.31 per share, coming in below analysts’ estimates of $2.37. On this news, the price of Teradata shares declined by $10.57 per share, or approximately 21.7%, from $48.79 per share on February 12, 2024 to close at $38.22 on February 13, 2024.