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

Hewlett Packard Enterprise (NYSE:HPE) had its price objective increased by analysts at Citigroup from $20.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 7.88% from the stock’s previous close.

Several other research firms also recently issued reports on HPE. Barclays raised Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $24.00 in a research note on Wednesday, September 25th. Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $23.00 to $29.00 in a research note on Monday. Bank of America raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Loop Capital boosted their price objective on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They issued a “hold” rating and a $22.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Down 0.3 %

Shares of HPE traded down $0.06 on Tuesday, hitting $21.32. The company’s stock had a trading volume of 3,355,226 shares, compared to its average volume of 15,214,737. 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 market capitalization of $27.69 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 3.27 and a beta of 1.19. The firm’s fifty day moving average price is $19.95 and its 200-day moving average price is $19.50. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating 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 company had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Insider Activity at Hewlett Packard Enterprise

In other news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the sale, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. The trade was a 26.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jeremy Cox sold 7,770 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total value of $163,170.00. Following the transaction, the senior vice president now owns 7,771 shares in the company, valued at approximately $163,191. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,012 shares of company stock worth $8,599,617. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of institutional investors have recently modified their holdings of HPE. RPg Family Wealth Advisory LLC acquired a new stake in Hewlett Packard Enterprise in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Hewlett Packard Enterprise during the third quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. grew its position in Hewlett Packard Enterprise by 571.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock worth $28,000 after buying an additional 1,143 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Hewlett Packard Enterprise by 80.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock worth $29,000 after acquiring an additional 637 shares during the period. Institutional investors own 80.78% of the company’s stock.

About Hewlett Packard Enterprise

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.