Hewlett Packard Enterprise (NYSE:HPE) Price Target Raised to $26.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised Hewlett Packard Enterprise's price target from $22.00 to $26.00, suggesting a potential upside of 13.79% from the stock's previous close.
• Overall, the stock has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $24.60.
• Hewlett Packard Enterprise reported earnings of $0.38 per share for the last quarter, exceeding analysts' expectations of $0.33, alongside a revenue of $7.63 billion.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $22.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target indicates a potential upside of 10.50% from the company's previous close.

Several other research firms have also weighed in on HPE. Raymond James Financial raised their price objective on shares of Hewlett Packard Enterprise from $29.00 to $30.00 and gave the stock a "strong-buy" rating in a report on Thursday. UBS Group raised their price target on shares of Hewlett Packard Enterprise from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday. Evercore ISI raised their price target on shares of Hewlett Packard Enterprise from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Loop Capital raised their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Hewlett Packard Enterprise in a report on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.87.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE traded up $0.37 during mid-day trading on Thursday, hitting $23.53. 24,229,009 shares of the stock were exchanged, compared to its average volume of 19,697,092. The company has a market cap of $30.88 billion, a P/E ratio of 28.70, a PEG ratio of 2.10 and a beta of 1.43. The stock's fifty day simple moving average is $21.26 and its two-hundred day simple moving average is $18.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.29. Hewlett Packard Enterprise has a twelve month low of $11.97 and a twelve month high of $24.66.

Insider Transactions at Hewlett Packard Enterprise

In other news, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 30th. The shares were sold at an average price of $20.54, for a total transaction of $616,200.00. Following the transaction, the executive vice president directly owned 42,427 shares of the company's stock, valued at $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antonio F. Neri sold 166,666 shares of Hewlett Packard Enterprise stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.52, for a total transaction of $3,753,318.32. Following the transaction, the chief executive officer directly owned 1,919,060 shares in the company, valued at approximately $43,217,231.20. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 461,924 shares of company stock valued at $10,110,183 over the last three months. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several institutional investors have recently added to or reduced their stakes in HPE. Elliott Investment Management L.P. bought a new stake in Hewlett Packard Enterprise in the 2nd quarter valued at $381,004,000. National Bank of Canada FI lifted its position in 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. Assenagon Asset Management S.A. lifted its position in Hewlett Packard Enterprise by 3,847.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,831,262 shares of the technology company's stock worth $180,599,000 after buying an additional 8,607,523 shares in the last quarter. Schroder Investment Management Group lifted its position in Hewlett Packard Enterprise by 192.4% during the 2nd quarter. Schroder Investment Management Group now owns 10,599,242 shares of the technology company's stock worth $216,754,000 after buying an additional 6,974,083 shares in the last quarter. Finally, Norges Bank bought a new stake in Hewlett Packard Enterprise during the 2nd quarter worth about $110,093,000. 80.78% of the stock is owned by institutional investors.

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.