Citigroup Increases Hewlett Packard Enterprise (NYSE:HPE) Price Target to $23.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price boosted by analysts at Citigroup from $20.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 8.59% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $23.00 to $29.00 in a report on Monday. UBS Group increased their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a research note on Tuesday, September 17th. Susquehanna restated a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They issued a “hold” rating and a $22.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Performance

HPE stock opened at $21.18 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $20.15 and a two-hundred day moving average of $19.55. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 3.27 and a beta of 1.19. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the prior year, the firm earned $0.35 EPS. Hewlett Packard Enterprise’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP Fidelma Russo sold 55,908 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.99, for a total value of $1,117,600.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antonio F. Neri sold 250,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.73, for a total transaction of $5,182,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,508,641 shares in the company, valued at $31,274,127.93. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 426,012 shares of company stock worth $8,599,617. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Hewlett Packard Enterprise by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 31,492,740 shares of the technology company’s stock valued at $642,748,000 after purchasing an additional 251,076 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Hewlett Packard Enterprise by 18.1% in the 3rd quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock valued at $560,274,000 after purchasing an additional 4,194,213 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hewlett Packard Enterprise by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock valued at $399,507,000 after purchasing an additional 822,722 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Hewlett Packard Enterprise by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock valued at $358,602,000 after purchasing an additional 617,691 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hewlett Packard Enterprise by 6.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company’s stock valued at $321,149,000 after purchasing an additional 921,624 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Company Profile

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.