Hewlett Packard Enterprise (NYSE:HPE) Given New $20.00 Price Target at Wells Fargo & Company

Hewlett Packard Enterprise (NYSE:HPE) had its price objective boosted by research analysts at Wells Fargo & Company from $17.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.64% from the company’s previous close.

HPE has been the subject of several other research reports. Evercore ISI raised shares of Hewlett Packard Enterprise from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $17.00 to $22.00 in a research note on Tuesday, May 20th. Barclays lifted their target price on shares of Hewlett Packard Enterprise from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Daiwa America lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Bank of America dropped their price target on shares of Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hewlett Packard Enterprise currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Hewlett Packard Enterprise Trading Up 1.3%

Hewlett Packard Enterprise stock traded up $0.22 during trading hours on Wednesday, reaching $17.91. The company had a trading volume of 11,294,150 shares, compared to its average volume of 17,207,064. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99. The company has a 50-day moving average price of $16.05 and a 200 day moving average price of $19.09. Hewlett Packard Enterprise has a 12-month low of $11.97 and a 12-month high of $24.66. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 2.03 and a beta of 1.29.

Hewlett Packard Enterprise (NYSE:HPE) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.51 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 8.56%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. Equities analysts forecast that Hewlett Packard Enterprise will post 1.85 earnings per share for the current year.

Insider Transactions at Hewlett Packard Enterprise

In related news, Director Bethany Mayer sold 6,409 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $13.19, for a total transaction of $84,534.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HPE. Putney Financial Group LLC bought a new position in shares of Hewlett Packard Enterprise in the fourth quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in Hewlett Packard Enterprise in the 1st quarter worth approximately $25,000. Bruce G. Allen Investments LLC raised its holdings in shares of Hewlett Packard Enterprise by 345.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company’s stock worth $26,000 after acquiring an additional 1,318 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Hewlett Packard Enterprise in the 1st quarter valued at $27,000. Finally, Hara Capital LLC purchased a new stake in shares of Hewlett Packard Enterprise in the 4th quarter worth $28,000. 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.