Hewlett Packard Enterprise (NYSE:HPE) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Hewlett Packard Enterprise (NYSE:HPE) in a report issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $62.00 price target on the technology company’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 18.66% from the company’s current price.

A number of other equities analysts also recently issued reports on HPE. Raymond James Financial increased their price objective on shares of Hewlett Packard Enterprise from $29.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Piper Sandler restated a “neutral” rating and set a $63.00 price target (up from $23.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Bank of America upped their price objective on shares of Hewlett Packard Enterprise from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial restated a “buy” rating and issued a $69.00 target price (up from $31.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.44.

Hewlett Packard Enterprise Price Performance

HPE opened at $52.25 on Tuesday. The stock has a market cap of $69.19 billion, a P/E ratio of 48.83, a PEG ratio of 0.56 and a beta of 1.42. Hewlett Packard Enterprise has a 52-week low of $19.84 and a 52-week high of $64.25. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $49.53 and a 200 day moving average of $37.06.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Monday, June 1st. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.25. Hewlett Packard Enterprise had a net margin of 3.94% and a return on equity of 11.91%. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $9.78 billion. During the same period in the prior year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Hewlett Packard Enterprise will post 2.92 EPS for the current year.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, SVP Kirt P. Karros sold 18,785 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $48.50, for a total value of $911,072.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amundi boosted its position in Hewlett Packard Enterprise by 61.0% during the second quarter. Amundi now owns 6,875,028 shares of the technology company’s stock worth $310,132,000 after acquiring an additional 2,604,937 shares during the last quarter. Advus Financial Partners LLC acquired a new position in shares of Hewlett Packard Enterprise during the 2nd quarter worth approximately $244,000. Financial Insights Inc. purchased a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at approximately $237,000. California State Teachers Retirement System increased its holdings in shares of Hewlett Packard Enterprise by 4,299.0% in the second quarter. California State Teachers Retirement System now owns 92,484,612 shares of the technology company’s stock valued at $4,171,981,000 after purchasing an additional 90,382,225 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at approximately $1,700,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.