Investment analysts at Bank of America have increased their price target for Hewlett Packard Enterprise (HPE) from $22.00 to $24.00, while maintaining a “neutral” rating on the company’s stock. This new price target suggests a potential upside of 15.89% from the current price of HPE. Other analysts, including Barclays, Sanford C. Bernstein, Evercore ISI, UBS Group, and Stifel Nicolaus, have also raised their price targets and ratings for HPE in recent reports. Overall, nine analysts have a hold rating and five have a buy rating on the stock.
HPE’s stock performance on the New York Stock Exchange saw a decline of $0.77 on Friday, closing at $20.71. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 15.16, and a beta of 1.18. HPE’s latest earnings report showed $0.42 earnings per share, beating analyst expectations, with a revenue of $7.2 billion for the quarter. Analysts predict HPE will post 1.59 EPS for the current fiscal year.
In terms of internal transactions, SVP Jeremy Cox sold shares of HPE, while Director Gary M. Reiner also sold shares recently. Insiders have collectively sold 158,464 shares of company stock in the last three months. Meanwhile, institutional investors and hedge funds have been increasing their holdings in HPE, with Raymond James & Associates, Mackenzie Financial Corp, and TCW Group Inc. among those adding to their positions.
Hewlett Packard Enterprise operates in six segments, offering solutions for data capture, analysis, and action in various regions. MarketBeat provided this news alert using narrative science technology and financial data to deliver quick and accurate reporting. Analysts recommend keeping an eye on the top-rated and best-performing stocks, including those not listed for HPE. MarketBeat also released a list of undervalued stocks for investors to consider.
Article Source
https://www.marketbeat.com/instant-alerts/nyse-hpe-boost-price-target-2024-06-21/