Hewlett Packard Enterprise (NYSE:HPE) Price Target Raised to $82.00

Hewlett Packard Enterprise (NYSE:HPE) had its price objective lifted by stock analysts at Bank of America from $80.00 to $82.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s target price suggests a potential upside of 56.76% from the company’s current price.

A number of other research analysts also recently commented on HPE. Loop Capital raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and increased their price target for the company from $23.00 to $75.00 in a report on Tuesday, June 2nd. Argus upped their price objective on Hewlett Packard Enterprise from $30.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $71.00 to $69.00 in a research report on Monday, August 10th. Zacks Research lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Susquehanna lifted their target price on Hewlett Packard Enterprise from $21.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and an average target price of $69.93.

Hewlett Packard Enterprise Stock Performance

Shares of HPE opened at $52.31 on Monday. Hewlett Packard Enterprise has a fifty-two week low of $19.84 and a fifty-two week high of $64.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.75 and a current ratio of 1.09. The company’s fifty day moving average is $49.46 and its 200 day moving average is $36.86. The stock has a market capitalization of $69.27 billion, a PE ratio of 48.89, a P/E/G ratio of 0.56 and a beta of 1.42.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Monday, June 1st. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.25. Hewlett Packard Enterprise had a net margin of 3.94% and a return on equity of 11.91%. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $9.78 billion. During the same period last year, the company posted ($0.82) EPS. The business’s revenue was up 40.0% on a year-over-year basis. Sell-side analysts expect that Hewlett Packard Enterprise will post 2.92 earnings per share for the current fiscal year.

Insider Activity at Hewlett Packard Enterprise

In related news, SVP Kirt P. Karros sold 18,785 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $48.50, for a total transaction of $911,072.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Hewlett Packard Enterprise in the second quarter worth approximately $26,000. Delos Wealth Advisors LLC purchased a new stake in Hewlett Packard Enterprise in the second quarter worth $27,000. SJS Investment Consulting Inc. lifted its position in shares of Hewlett Packard Enterprise by 159.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,165 shares of the technology company’s stock worth $28,000 after purchasing an additional 716 shares during the last quarter. Union Savings Bank purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at $30,000. Finally, First Bancorp Inc ME bought a new position in shares of Hewlett Packard Enterprise in the second quarter worth about $30,000. Institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.