StockNews.com upgraded Hewlett Packard Enterprise (HPE) from a Hold rating to a Buy rating in a research note published on Wednesday. Other analysts also raised their price targets on the stock, with nine rating it as hold and four giving it a buy rating. The consensus rating for HPE is Hold with a price target of $20.25.
HPE opened at $19.49 on Wednesday, with a market capitalization of $25.33 billion. The company’s recent quarterly earnings showed a beat on analysts’ estimates, with earnings per share of $0.42 and revenue of $7.2 billion. The company also announced a quarterly dividend of $0.13 per share.
Insiders have been active in selling their shares, with senior vice president Jeremy Cox selling over 18,000 shares. Large investors have also modified their holdings in the company, with hedge funds increasing their positions in HPE.
Hewlett Packard Enterprise operates in six segments, offering solutions in areas like computing, storage, intelligent edge, and financial services. The company’s stock performance has been on the rise, with analysts predicting a positive outlook for the future.
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