Wells Fargo & Company Raises Hewlett Packard Enterprise (NYSE:HPE) Price Target to $19.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price upped by research analysts at Wells Fargo & Company from $17.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.50% from the company’s current price.

A number of other research analysts have also recently commented on the company. Sanford C. Bernstein cut Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $20.00 to $17.00 in a research note on Tuesday, January 16th. StockNews.com cut Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Barclays decreased their price target on Hewlett Packard Enterprise from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Evercore ISI decreased their price target on Hewlett Packard Enterprise from $19.00 to $18.00 and set an “in-line” rating on the stock in a research note on Friday, March 1st. Finally, Stifel Nicolaus reduced their price objective on Hewlett Packard Enterprise from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hewlett Packard Enterprise has an average rating of “Hold” and an average price target of $17.91.

Hewlett Packard Enterprise Trading Up 0.1 %

Shares of Hewlett Packard Enterprise stock opened at $17.04 on Wednesday. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 3.17 and a beta of 1.21. Hewlett Packard Enterprise has a fifty-two week low of $13.65 and a fifty-two week high of $20.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.89. The stock has a 50 day moving average of $16.84 and a 200 day moving average of $16.41.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was down 13.5% compared to the same quarter last year. As a group, research analysts predict that Hewlett Packard Enterprise will post 1.4 earnings per share for the current year.

Institutional Trading of Hewlett Packard Enterprise

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. raised its stake in Hewlett Packard Enterprise by 12.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,447 shares of the technology company’s stock valued at $581,000 after buying an additional 3,686 shares in the last quarter. Raymond James & Associates raised its stake in Hewlett Packard Enterprise by 13.2% in the fourth quarter. Raymond James & Associates now owns 932,921 shares of the technology company’s stock valued at $15,841,000 after buying an additional 108,971 shares in the last quarter. Nordea Investment Management AB raised its stake in Hewlett Packard Enterprise by 0.9% in the third quarter. Nordea Investment Management AB now owns 4,024,719 shares of the technology company’s stock valued at $70,272,000 after buying an additional 36,793 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Hewlett Packard Enterprise by 70.2% during the third quarter. Citigroup Inc. now owns 3,550,595 shares of the technology company’s stock worth $61,674,000 after purchasing an additional 1,464,650 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Hewlett Packard Enterprise by 4.2% during the third quarter. Morgan Stanley now owns 15,879,051 shares of the technology company’s stock worth $275,819,000 after purchasing an additional 634,727 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

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.