Citigroup Boosts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $23.00

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) had its target price raised by investment analysts at Citigroup from $20.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Citigroup's price target would suggest a potential upside of 6.88% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Raymond James raised Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $23.00 to $29.00 in a research note on Monday. Barclays raised Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $20.00 to $24.00 in a research note on Wednesday, September 25th. Loop Capital upped their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, September 9th. Susquehanna reiterated a "neutral" rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Finally, UBS Group increased their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.21.

Hewlett Packard Enterprise Price Performance

Shares of HPE stock traded up $0.14 on Tuesday, reaching $21.52. The company's stock had a trading volume of 9,076,723 shares, compared to its average volume of 15,242,106. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. Hewlett Packard Enterprise has a 12-month low of $14.47 and a 12-month high of $22.82. The company has a market capitalization of $27.95 billion, a P/E ratio of 15.37, a PEG ratio of 3.27 and a beta of 1.19. The stock's 50 day simple moving average is $20.06 and its 200-day simple moving average is $19.53.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same quarter last year, the business posted $0.35 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $17.00, for a total value of $493,000.00. Following the transaction, the executive vice president now directly owns 82,061 shares of the company's stock, valued at approximately $1,395,037. This trade represents a 26.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Antonio F. Neri sold 83,334 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the transaction, the chief executive officer now directly owns 1,758,641 shares in the company, valued at $34,680,400.52. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 426,012 shares of company stock valued at $8,599,617. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Capital Investment Counsel Inc raised its stake in shares of Hewlett Packard Enterprise by 1.2% in the second quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company's stock worth $874,000 after buying an additional 500 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Hewlett Packard Enterprise by 4.8% in the second quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company's stock worth $231,000 after buying an additional 501 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Hewlett Packard Enterprise by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company's stock worth $2,363,000 after buying an additional 536 shares during the period. Avior Wealth Management LLC raised its stake in shares of Hewlett Packard Enterprise by 6.4% in the third quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company's stock worth $198,000 after buying an additional 579 shares during the period. Finally, Bailard Inc. raised its stake in shares of Hewlett Packard Enterprise by 1.7% in the second quarter. Bailard Inc. now owns 35,349 shares of the technology company's stock worth $748,000 after buying an additional 580 shares during the period. Institutional investors 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.