Hewlett Packard Enterprise (NYSE:HPE) Now Covered by Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank initiated coverage of Hewlett Packard Enterprise with a “buy” rating and a $62 price target, implying approximately 18.7% upside from the reported $52.25 share price.
• Analyst sentiment is broadly positive: 12 analysts rate HPE a Buy and six rate it a Hold, producing a “Moderate Buy” consensus rating and an average price target of $69.44.
• HPE’s latest quarterly results exceeded expectations, with adjusted earnings of $0.79 per share and revenue of $10.68 billion—up 40% year over year and above consensus estimates.

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $62.00 price target on the technology company's stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 18.66% from the stock's current price.

Several other equities analysts also recently weighed in on HPE. Loop Capital upgraded Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and raised their price target for the company from $23.00 to $75.00 in a report on Tuesday, June 2nd. Barclays increased their price objective on shares of Hewlett Packard Enterprise from $28.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, June 2nd. Citigroup raised their price objective on shares of Hewlett Packard Enterprise from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Hewlett Packard Enterprise from $37.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley upgraded shares of Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $71.00 to $69.00 in a report on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Hewlett Packard Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $69.44.

Hewlett Packard Enterprise Price Performance

HPE opened at $52.25 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.72. The company has a market cap of $69.19 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The stock has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $37.06. Hewlett Packard Enterprise has a 12-month low of $19.84 and a 12-month high of $64.25.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its earnings results on Monday, June 1st. The technology company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.25. Hewlett Packard Enterprise had a net margin of 3.94% and a return on equity of 11.91%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $9.78 billion. During the same period in the prior year, the firm earned ($0.82) EPS. The company's revenue was up 40.0% compared to the same quarter last year. Research analysts predict that Hewlett Packard Enterprise will post 2.92 earnings per share for the current fiscal year.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Kirt P. Karros sold 18,785 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $48.50, for a total transaction of $911,072.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.44% of the company's stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of hedge funds have recently modified their holdings of HPE. Amundi grew its stake in shares of Hewlett Packard Enterprise by 61.0% during the 2nd quarter. Amundi now owns 6,875,028 shares of the technology company's stock valued at $310,132,000 after acquiring an additional 2,604,937 shares during the period. Advus Financial Partners LLC bought a new stake in shares of Hewlett Packard Enterprise during the 2nd quarter valued at $244,000. Financial Insights Inc. purchased a new position in shares of Hewlett Packard Enterprise in the second quarter valued at about $237,000. California State Teachers Retirement System lifted its holdings in Hewlett Packard Enterprise by 4,299.0% in the 2nd quarter. California State Teachers Retirement System now owns 92,484,612 shares of the technology company's stock worth $4,171,981,000 after purchasing an additional 90,382,225 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Hewlett Packard Enterprise during the second quarter worth $1,700,000. Institutional investors own 80.78% of the company's stock.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE's product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.

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