UPDATE: JMP Downgrades Teradata

In Monday's morning summary, JMP analyst Greg McDowell downgraded shares of Teradata (NYSE: TDC) from Market Outperform to Market Perform and removed the $63 price target.

McDowell explained that after attending a number of conferences with alternative data platforms, he is increasingly convinced that the momentum of leaders in this sector is "unstoppable." According to McDowell, this does not bode well for Teradata as he sees these companies as a "significant threat" to the company.

Looking forward, McDowell believes Teradata may struggle to grow and has reduced his non-GAAP EPS estimates to match this belief. For 2014-2016 he has cut his respective estimates from $2.88, $3.33, $3.74 to $2.82, $3.08, $3.42 all of which are below consensus estimates.