Hewlett Packard Enterprise Price Target Increased to $27.00

Hewlett Packard Enterprise (NYSE:HPE) recently saw a boost in its price target, as analysts at Barclays raised their forecast from $24.00 to $27.00. This increase was outlined in a report published on Friday, where they maintained an "overweight" rating for the technology company's stock. The new price target suggests a potential upside of approximately 12.31% from HPE's previous closing price.

Recent Analyst Ratings

Hewlett Packard Enterprise has received attention from several other analysts as well. On October 11, Susquehanna reiterated a "neutral" rating while setting a target price of $20.00. Meanwhile, Loop Capital raised their target from $16.00 to $18.00 in a report issued on September 9, giving the stock a "hold" rating. Additionally, Deutsche Bank initiated coverage on HPE on October 9, assigning a "hold" rating with a price objective of $22.00. In an upgrade, Raymond James changed their outlook from "outperform" to "strong-buy" and increased their target for HPE from $23.00 to $29.00 on November 18. Stifel Nicolaus also raised their price target from $22.00 to $25.00 while maintaining a "buy" rating. Overall, seven analysts rate the stock as a hold, seven have buy ratings, and one analyst rates it as a strong buy. Presently, the consensus rating is a "Moderate Buy" with an average target price of $23.36.

Hewlett Packard Enterprise Stock Performance

During trading on Friday, Hewlett Packard Enterprise shares rose by 11.0%, reaching $24.04. A total of 23,945,322 shares exchanged hands, significantly higher than the average volume of 15,179,042. The company has a market capitalization of $31.22 billion, a price-to-earnings ratio of 17.17, and a debt-to-equity ratio of 0.36. HPE's stock has fluctuated in the past year, with a low of $14.47 and a high of $24.15. The firm's current financial ratios indicate a current ratio of 0.94 and a quick ratio of 0.62.

Quarterly Earnings Report

Hewlett Packard Enterprise reported its quarterly earnings data on September 4, showcasing earnings of $0.50 per share, which exceeded expectations of $0.47 by $0.03. Revenue for the quarter amounted to $7.71 billion, surpassing the analyst estimates of $7.67 billion. This represents an increase of 10.1% compared to the same quarter last year, with the previous year’s earnings per share reported at $0.35. Analysts forecast that for the current year, HPE will achieve earnings of $1.66 per share.

Insider Trading Activity

In insider trading news, Senior Vice President Jeremy Cox sold 7,770 shares of HPE on October 8 at an average selling price of $21.00, totaling $163,170. Following this transaction, Cox's remaining shareholding decreased by 50% to 7,771 shares. Additionally, CEO Antonio F. Neri sold 83,334 shares on September 25 for an average price of $19.72, totaling $1,643,346.48. After this sale, Neri still holds 1,758,641 shares, valued at roughly $34.68 million. Over the past three months, insiders have sold 426,012 shares worth about $8.6 million, with insiders owning 0.40% of the company's total stock.

Institutional Investor Movements

Recent activity from institutional investors reflects changes in ownership stakes within Hewlett Packard Enterprise. Cetera Investment Advisers increased its position by 455.7% in the first quarter, acquiring an additional 99,394 shares for a total of 121,204 shares, valued at $2.15 million. Cetera Advisors LLC also boosted its holdings by 39.8% in the first quarter, now owning 55,388 shares valued at $982,000. CWM LLC's position grew by 41.9%, purchasing an extra 18,308 shares to bring their total to 61,979 shares, valued at $1.31 million. Other institutional changes include QRG Capital Management's 18.0% increase in shares and a new position established by Opal Wealth Advisors worth approximately $51,000. Currently, 80.78% of Hewlett Packard Enterprise's shares are held by institutional investors and hedge funds.

Company Overview

Hewlett Packard Enterprise provides various technology solutions designed to help customers effectively capture, analyze, and manage data across multiple regions, including the Americas, Europe, the Middle East, Africa, Asia Pacific, and Japan. The company operates through six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.

Hewlett, Packard, Enterprise