NetSuite Inc. (NYSE:N) has been given a $109.00 target price by investment analysts at DA Davidson in a research note issued on Monday. The firm currently has a a “hold” rating on the stock. DA Davidson’s price target would suggest a potential upside of 4.72% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley raised shares of NetSuite from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $60.00 to $109.00 in a research note on Friday, July 29th. Barclays PLC lifted their target price on shares of NetSuite from $74.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. Deutsche Bank AG cut shares of NetSuite from a “buy” rating to a “hold” rating and lifted their target price for the stock from $95.00 to $109.00 in a report on Thursday, July 28th. BMO Capital Markets reaffirmed a “hold” rating on shares of NetSuite in a report on Wednesday, June 15th. Finally, Canaccord Genuity cut shares of NetSuite from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, twenty-nine have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $90.82.
NetSuite (NYSE:N) traded down 2.09% on Monday, hitting $101.91. 696,617 shares of the stock were exchanged. The stock’s market cap is $8.25 billion. NetSuite has a 12 month low of $51.75 and a 12 month high of $110.99. The company has a 50-day moving average of $109.07 and a 200-day moving average of $88.93.
NetSuite (NYSE:N) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. NetSuite had a negative net margin of 16.21% and a negative return on equity of 31.78%. The business had revenue of $230.80 million for the quarter, compared to analyst estimates of $230.58 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. NetSuite’s quarterly revenue was up 30.2% on a year-over-year basis. On average, equities analysts predict that NetSuite will post $0.49 EPS for the current year.
In other NetSuite news, insider James Mcgeever sold 36,160 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $90.00, for a total transaction of $3,254,400.00. Following the transaction, the insider now directly owns 379,507 shares in the company, valued at approximately $34,155,630. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Evan Goldberg sold 20,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $109.77, for a total transaction of $2,195,400.00. Following the transaction, the chairman now owns 190,082 shares in the company, valued at $20,865,301.14. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of N. Creative Planning boosted its position in shares of NetSuite by 1.5% in the second quarter. Creative Planning now owns 4,026 shares of the company’s stock valued at $293,000 after buying an additional 61 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of NetSuite by 3.3% in the second quarter. Prudential Financial Inc. now owns 3,143 shares of the company’s stock valued at $229,000 after buying an additional 100 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of NetSuite by 0.4% in the first quarter. Teachers Advisors Inc. now owns 32,560 shares of the company’s stock valued at $2,230,000 after buying an additional 133 shares during the last quarter. Pitcairn Co. boosted its position in shares of NetSuite by 0.7% in the second quarter. Pitcairn Co. now owns 21,123 shares of the company’s stock valued at $1,537,000 after buying an additional 149 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of NetSuite by 2.4% in the second quarter. Stifel Financial Corp now owns 6,734 shares of the company’s stock valued at $491,000 after buying an additional 158 shares during the last quarter. Institutional investors own 54.29% of the company’s stock.
NetSuite Company Profile
NetSuite Inc (NetSuite) is a provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites. The Company offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business operations in an integrated suite.
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