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Bank of America raises price target for Hewlett Packard Enterprise (NYSE:HPE) to .00
Bank of America raises price target for Hewlett Packard Enterprise (NYSE:HPE) to .00

Hewlett Packard Enterprise (NYSE:HPE – Get Free Report) The price target was raised from $22.00 to $24.00 by investment analysts at Bank of America in a research note issued to investors on Friday, Benzinga reports. The brokerage currently rates the technology company’s stock as “neutral.” Bank of America’s price target suggests a potential upside of 15.89% from the company’s current price.

A number of other analysts have also recently commented on HPE. Barclays increased their price target on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an “Equal Weight” rating in a research report on Wednesday, June 5th. Sanford C. Bernstein increased their price target on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “Market Perform” rating in a research report on Wednesday, June 5th. Evercore ISI increased their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an “In-Line” rating in a research report on Wednesday, June 5th. UBS Group increased their price target on shares of Hewlett Packard Enterprise from $16.00 to $17.00 and gave the stock a “Neutral” rating in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus raised their price target on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, June 5. Nine equities analysts have rated the stock with a “hold” rating and five have given a “buy” rating. The company currently has an average rating of “hold” and an average price target of $20.85, according to data from MarketBeat.

Get our latest research report on Hewlett Packard Enterprise

Price development of Hewlett Packard Enterprise shares

NYSE:HPE shares traded $0.77 lower on Friday, hitting $20.71. 11,868,361 shares traded hands, compared to an average volume of 15,965,099. The company has a market cap of $26.92 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.90. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $22.82. The company’s 50-day simple moving average is $18.28 and its 200-day simple moving average is $17.13.

Hewlett Packard Enterprise (NYSE: HPE – Get Free Report) last released its earnings results on Tuesday, June 4. The technology company reported earnings per share of $0.42 for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.20 billion for the quarter, compared to analyst expectations of $6.82 billion. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. Hewlett Packard Enterprise’s quarterly revenue increased 3.3% compared to the same quarter last year. During the same period last year, the company generated earnings per share of $0.32. Sell-side analysts expect Hewlett Packard Enterprise to report earnings per share of $1.59 for the current fiscal year.

Insider transactions at Hewlett Packard Enterprise

In related news, SVP Jeremy Cox sold 18,323 shares of the company’s stock on Wednesday, April 24. The shares were sold at an average price of $16.96, for a total value of $310,758.08. Following the completion of the sale, the senior vice president now owns 15,541 shares of the company’s stock, valued at approximately $263,575.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Jeremy Cox sold 18,323 shares of Hewlett Packard Enterprise stock on Wednesday, April 24. The shares were sold at an average price of $16.96, for a total value of $310,758.08. Following the completion of the sale, the senior vice president now owns 15,541 shares of the company’s stock, valued at approximately $263,575.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Gary M. Reiner sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6. The shares were sold at an average price of $19.51, for a total value of $975,500.00. Following the sale, the director now directly owns 150,948 shares of the company’s stock, valued at $2,944,995.48. The disclosure of this sale can be found here. Insiders have sold a total of 158,464 shares of the company’s stock, valued at $3,160,866, in the last three months. 0.40% of the shares are currently owned by company insiders.

Hedge funds comment on Hewlett Packard Enterprise

Institutional investors and hedge funds have recently added to or reduced their holdings of the stock. Raymond James & Associates increased its holdings in shares of Hewlett Packard Enterprise by 13.2% in the fourth quarter. Raymond James & Associates now owns 932,921 shares of the technology company’s stock valued at $15,841,000 after acquiring an additional 108,971 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Hewlett Packard Enterprise by 17.4% in the fourth quarter. Mackenzie Financial Corp now owns 1,562,640 shares of the technology company’s stock valued at $26,534,000 after acquiring an additional 232,150 shares in the last quarter. TCW Group Inc. acquired a new stake in shares of Hewlett Packard Enterprise in the fourth quarter valued at $348,000. Truist Financial Corp increased its holdings in Hewlett Packard Enterprise by 1.5% in the fourth quarter. Truist Financial Corp now owns 80,501 shares of the technology company’s stock worth $1,367,000 after purchasing an additional 1,190 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Hewlett Packard Enterprise by 49.0% in the fourth quarter. TD Asset Management Inc now owns 799,850 shares of the technology company’s stock worth $13,581,000 after purchasing an additional 263,182 shares in the last quarter. 80.78% of the shares are owned by institutional investors and hedge funds.

Hewlett Packard Enterprise company profile

(Get free report)

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

Selected items

Analyst recommendations for Hewlett Packard Enterprise (NYSE:HPE)

This instant news alert was generated using narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial staff prior to publication. Please send questions or comments about this story to [email protected].

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