Evercore ISI Increases Hewlett Packard Enterprise (NYSE:HPE) Price Target to $28.00

Key Points

• Hewlett Packard Enterprise's price target has been raised by Evercore ISI from $25.00 to $28.00, indicating a potential upside of 40.04% from the previous close.
• The company recently reported earnings of $0.38 per share, beating expectations and showing a 5.9% increase in revenue year-over-year.
• Insider selling has occurred, with executives offloading 128,590 shares in the past three months, indicating a potential shift in insider sentiment.

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its price objective upped by Evercore ISI from $25.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the technology company's stock.

Several other analysts have also recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Raymond James Financial upped their price objective on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, June 4th. Loop Capital increased their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group began coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, July 24th. They set a "neutral" rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Hewlett Packard Enterprise from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.87.

Hewlett Packard Enterprise Price Performance

NYSE HPE traded up $0.44 on Wednesday, reaching $20.84. The company's stock had a trading volume of 15,198,651 shares, compared to its average volume of 14,798,562. The firm has a market cap of $27.35 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 3.00 and a beta of 1.37. The business has a 50-day moving average price of $19.61 and a 200 day moving average price of $18.32. Hewlett Packard Enterprise has a 52 week low of $11.97 and a 52 week high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The business had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.51 billion. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts expect that Hewlett Packard Enterprise will post 1.85 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, June 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, June 18th. Hewlett Packard Enterprise's dividend payout ratio is currently 52.53%.

Insider Activity at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 68,590 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $18.44, for a total value of $1,264,799.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Phil Mottram sold 30,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. Following the completion of the sale, the executive vice president owned 42,427 shares in the company, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,590 shares of company stock worth $2,436,000 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in Hewlett Packard Enterprise by 34.9% in the second quarter. Rockefeller Capital Management L.P. now owns 117,588 shares of the technology company's stock worth $2,405,000 after purchasing an additional 30,405 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Hewlett Packard Enterprise by 28.8% in the second quarter. Itau Unibanco Holding S.A. now owns 3,910 shares of the technology company's stock worth $80,000 after purchasing an additional 874 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of Hewlett Packard Enterprise by 9.9% during the second quarter. Kingsview Wealth Management LLC now owns 15,202 shares of the technology company's stock worth $311,000 after acquiring an additional 1,364 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Hewlett Packard Enterprise by 39.3% during the second quarter. Citizens Financial Group Inc. RI now owns 20,439 shares of the technology company's stock worth $418,000 after acquiring an additional 5,765 shares during the period. Finally, Creative Planning raised its holdings in shares of Hewlett Packard Enterprise by 20.3% during the second quarter. Creative Planning now owns 261,503 shares of the technology company's stock worth $5,348,000 after acquiring an additional 44,208 shares during the period. 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.