Hewlett Packard Enterprise (NYSE:HPE) Stock Price Expected to Rise, Evercore ISI Analyst Says

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 target price hoisted by Evercore ISI from $25.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the technology company's stock.

HPE has been the subject of several other research reports. Wolfe Research began coverage on shares of Hewlett Packard Enterprise in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Barclays increased their price target on Hewlett Packard Enterprise from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Loop Capital increased their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Morgan Stanley boosted 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 report on Tuesday, May 20th. Finally, UBS Group raised their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of "Moderate Buy" and an average target price of $22.87.

Hewlett Packard Enterprise Stock Up 2.9%

Shares of NYSE HPE traded up $0.59 during midday trading on Wednesday, hitting $20.99. The company's stock had a trading volume of 3,214,107 shares, compared to its average volume of 18,915,828. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. Hewlett Packard Enterprise has a 1 year low of $11.97 and a 1 year high of $24.66. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.90 and a beta of 1.37. The business's fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $18.38.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.51 billion. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities analysts predict 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. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.13 per share. 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 payout ratio is currently 52.53%.

Insider Activity at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP Phil Mottram sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $20.54, for a total value of $616,200.00. Following the completion of the transaction, the executive vice president owned 42,427 shares in the company, valued at $871,450.58. This represents a 41.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in Hewlett Packard Enterprise by 4.7% in the fourth quarter. Cerity Partners LLC now owns 316,540 shares of the technology company's stock valued at $6,711,000 after purchasing an additional 14,338 shares during the last quarter. Bank of Nova Scotia raised its holdings in Hewlett Packard Enterprise by 2.1% in the fourth quarter. Bank of Nova Scotia now owns 438,111 shares of the technology company's stock valued at $9,354,000 after acquiring an additional 9,175 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hewlett Packard Enterprise by 330.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,842,600 shares of the technology company's stock valued at $60,690,000 after acquiring an additional 2,182,800 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Hewlett Packard Enterprise by 34.9% in the 4th quarter. Advisory Services Network LLC now owns 25,688 shares of the technology company's stock valued at $548,000 after purchasing an additional 6,651 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Hewlett Packard Enterprise by 1.0% during the fourth quarter. Bessemer Group Inc. now owns 204,363 shares of the technology company's stock worth $4,363,000 after purchasing an additional 2,059 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company's stock.

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.