Oppenheimer Assigned a Buy Rating to Hewlett Packard EnterpriseBy Austin Angelo
Oppenheimer analyst Ittai Kidron assigned a Buy rating to Hewlett Packard Enterprise (NYSE: HPE) yesterday and set a price target of $25. The company’s shares closed yesterday at $22.87, close to its 52-week high of $23.85.
According to TipRanks.com, Kidron is a 2-star analyst with an average return of 0.0% and a 52.7% success rate. Kidron covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Riverbed Technology, and Motorola Solutions.
Currently, the analyst consensus on Hewlett Packard Enterprise is Moderate Buy and the average price target is $23.43, representing a 2.4% upside.
In a report issued on November 7, Credit Suisse also reiterated a Buy rating on the stock with a $26 price target.
Based on Hewlett Packard Enterprise’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $12.25 billion and quarterly net profit of $2.27 billion. In comparison, last year the company earned revenue of $13.45 billion and had a net profit of $1.39 billion.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.
Hewlett Packard Enterprise Co. is the provider of technology solutions customers need to optimize their traditional information technology while helping them build the secure, cloud-enabled, mobile-ready future that is suited to their needs. It offers servers, storage, networking, converged systems, software and services, combined with its financing solutions. The company operates through the following segments: Enterprise Group, Software, Enterprise Services, Financial Services and Corporate Investments. The Enterprise Group segment provides technology infrastructure. The Software segment automate information technology operations to simplify, accelerate and secure business processes and drives the analytics that turn raw data into actionable knowledge. The Enterprise Services provides consulting and support professionals to deliver superior, comprehensive results. The Financial Services segment provides financial architectures and investment solutions for its customers. The Corporate Investments segment includes its Labs and certain business incubation projects, among others. Hewlett Packard Enterprise was founded on November 2, 2015 and is headquartered in Palo Alto, CA.