Wells Fargo & Company Forecasts Strong Price Appreciation for Hewlett Packard Enterprise (NYSE:HPE) Stock

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) had its price objective lifted by equities researchers at Wells Fargo & Company from $20.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's target price indicates a potential upside of 3.21% from the company's previous close.

HPE has been the subject of several other reports. KeyCorp assumed coverage on shares of Hewlett Packard Enterprise in a research report on Thursday, June 26th. They set a "sector weight" rating for the company. Barclays boosted their price objective on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley raised their target price on Hewlett Packard Enterprise from $14.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Susquehanna cut their price target on Hewlett Packard Enterprise from $20.00 to $15.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Daiwa America cut shares of Hewlett Packard Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Hewlett Packard Enterprise currently has an average rating of "Moderate Buy" and an average price target of $21.85.

Hewlett Packard Enterprise Stock Performance

HPE traded up $0.07 during mid-day trading on Thursday, reaching $21.32. 12,296,572 shares of the company traded hands, compared to its average volume of 16,798,132. The company's fifty day moving average price is $17.81 and its 200-day moving average price is $18.62. The stock has a market capitalization of $27.97 billion, a P/E ratio of 21.53, a P/E/G ratio of 3.07 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.52. Hewlett Packard Enterprise has a 52-week low of $11.97 and a 52-week high of $24.66.

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

Insider Buying and Selling at Hewlett Packard Enterprise

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

Hedge Funds Weigh In On Hewlett Packard Enterprise

A number of large investors have recently bought and sold shares of the business. National Bank of Canada FI grew its position in shares of Hewlett Packard Enterprise by 1,369.1% during the 1st quarter. National Bank of Canada FI now owns 16,279,442 shares of the technology company's stock worth $251,192,000 after buying an additional 15,171,314 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Hewlett Packard Enterprise during the 4th quarter valued at about $292,959,000. Norges Bank purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $119,067,000. Slate Path Capital LP raised its holdings in shares of Hewlett Packard Enterprise by 44.8% in the fourth quarter. Slate Path Capital LP now owns 12,689,164 shares of the technology company's stock worth $270,914,000 after buying an additional 3,924,039 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Hewlett Packard Enterprise by 45.6% during the first quarter. AQR Capital Management LLC now owns 12,521,303 shares of the technology company's stock worth $193,078,000 after buying an additional 3,922,516 shares during the period. Hedge funds and other institutional investors own 80.78% of the company's stock.

Hewlett Packard Enterprise Company Profile

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.