Hewlett Packard Enterprise (NYSE:HPE) Stock Price Expected to Rise, Citigroup Analyst Says

Hewlett Packard Enterprise (NYSE:HPE) had its target price hoisted by research analysts at Citigroup from $25.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 10.50% from the company’s previous close.

HPE has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on Hewlett Packard Enterprise in a research note on Thursday, July 24th. They set a “neutral” rating and a $22.00 price target for the company. UBS Group increased their price target on Hewlett Packard Enterprise from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Hewlett Packard Enterprise from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Raymond James Financial increased their price objective on Hewlett Packard Enterprise from $29.00 to $30.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on Hewlett Packard Enterprise from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.87.

Hewlett Packard Enterprise Stock Performance

Shares of NYSE HPE opened at $23.53 on Thursday. The stock has a fifty day moving average price of $21.26 and a two-hundred day moving average price of $18.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.29. The firm has a market cap of $30.88 billion, a P/E ratio of 28.70, a PEG ratio of 2.07 and a beta of 1.43. Hewlett Packard Enterprise has a 1 year low of $11.97 and a 1 year high of $24.66.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.51 billion. Hewlett Packard Enterprise had a return on equity of 8.99% and a net margin of 3.77%.The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Research analysts forecast that Hewlett Packard Enterprise will post 1.85 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jeremy Cox sold 68,590 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $18.44, for a total value of $1,264,799.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antonio F. Neri sold 83,334 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $24.04, for a total value of $2,003,349.36. Following the completion of the sale, the chief executive officer owned 1,752,392 shares of the company’s stock, valued at $42,127,503.68. The trade was a 4.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 461,924 shares of company stock worth $10,110,183 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Hewlett Packard Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of HPE. Aptus Capital Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth $286,000. Algert Global LLC purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth $240,000. Baird Financial Group Inc. raised its holdings in shares of Hewlett Packard Enterprise by 58.8% during the fourth quarter. Baird Financial Group Inc. now owns 19,604 shares of the technology company’s stock worth $419,000 after acquiring an additional 7,260 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Hewlett Packard Enterprise by 23.6% during the fourth quarter. Captrust Financial Advisors now owns 115,824 shares of the technology company’s stock worth $2,473,000 after acquiring an additional 22,089 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth $871,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.