NetSuite Receives a Sell from D.A. Davidson

By Jason Carr

D.A. Davidson analyst Jack Andrews reiterated a Sell rating on NetSuite (NYSE: N) yesterday and set a price target of $73. The company’s shares closed last Friday at $90.34.

According to TipRanks.com, Andrews is a 1-star analyst with an average return of -3.9% and a 51.9% success rate. Andrews covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Palo Alto Networks, and Proofpoint Inc.

Currently, the analyst consensus on NetSuite is Moderate Sell and the average price target is $92.67, representing a 2.6% upside.

In a report issued on October 26, Merrill Lynch also assigned a Sell rating to the stock with a $68 price target.

Based on NetSuite’s latest earnings report from June 30, the company posted quarterly revenue of $230.8M and quarterly net profit of -$37.74M. In comparison, last year the company earned revenue of $192.8M and had a net profit of -$37.34M.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock.

NetSuite, Inc. engages in the provision of cloud-based business management application and omnichannel commerce software suites. It offers different applications, including accounting, customer relationship management, professional services automation, Human Capital Management and ecommerce. The company was founded by Evan M. Goldberg and Lawrence J. Ellison in October 1998 and is headquartered in San Mateo, CA.