Raymond James Financial Forecasts Strong Price Appreciation for Hewlett Packard Enterprise (NYSE:HPE) Stock

Key Points

• Raymond James Financial has raised its price target for Hewlett Packard Enterprise (NYSE:HPE) from $29.00 to $30.00, suggesting a potential upside of 31.29% from the stock's previous close.
• Hewlett Packard Enterprise reported $0.38 earnings per share for the last quarter, surpassing the consensus estimate of $0.33, with a revenue of $7.63 billion.
• Currently, the consensus rating for HPE is "Moderate Buy," with two analysts rating it as Strong Buy, seven as Buy, and nine as Hold.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) had its price objective upped by stock analysts at Raymond James Financial from $29.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the technology company's stock. Raymond James Financial's target price would suggest a potential upside of 27.50% from the company's current price.

Several other brokerages have also recently issued reports on HPE. Citigroup initiated coverage on Hewlett Packard Enterprise in a research note on Friday, July 25th. They issued a "buy" rating and a $25.00 price objective for the company. Evercore ISI raised their price objective on Hewlett Packard Enterprise from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley upgraded Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $22.00 to $28.00 in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. started coverage on Hewlett Packard Enterprise in a research note on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of "Moderate Buy" and an average price target of $24.87.

Hewlett Packard Enterprise Stock Performance

Shares of NYSE:HPE traded up $0.37 during trading on Thursday, hitting $23.53. The stock had a trading volume of 24,229,009 shares, compared to its average volume of 19,697,092. Hewlett Packard Enterprise has a 12-month low of $11.97 and a 12-month high of $24.66. The stock has a market capitalization of $30.88 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $21.26 and a two-hundred day simple moving average of $18.38.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.44, for a total value of $1,264,799.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise 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 sale, the executive vice president directly owned 42,427 shares in the company, valued at $871,450.58. This represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 461,924 shares of company stock valued at $10,110,183 over the last ninety days. Insiders own 0.36% of the company's stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elliott Investment Management L.P. purchased a new stake in shares of Hewlett Packard Enterprise in the 2nd quarter valued at $381,004,000. National Bank of Canada FI raised its holdings in shares of Hewlett Packard Enterprise by 1,369.1% in the 1st quarter. National Bank of Canada FI now owns 16,279,442 shares of the technology company's stock valued at $251,192,000 after buying an additional 15,171,314 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Hewlett Packard Enterprise by 3,847.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,831,262 shares of the technology company's stock valued at $180,599,000 after buying an additional 8,607,523 shares during the period. Schroder Investment Management Group raised its holdings in shares of Hewlett Packard Enterprise by 192.4% in the 2nd quarter. Schroder Investment Management Group now owns 10,599,242 shares of the technology company's stock valued at $216,754,000 after buying an additional 6,974,083 shares during the period. Finally, Norges Bank purchased a new stake in shares of Hewlett Packard Enterprise in the 2nd quarter valued at $110,093,000. 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.