NetSuite Rating Increased to Outperform at FBR Capital Markets (N)
NetSuite (NYSE:N) was upgraded by stock analysts at FBR Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $125.00 target price on the stock, up from their previous target price of $110.00. FBR Capital Markets’ price target indicates a potential upside of 13.01% from the company’s current price.
NetSuite (NYSE:N) traded up 1.85% on Thursday, hitting $110.61. The stock had a trading volume of 345,284 shares. NetSuite has a 52 week low of $65.22 and a 52 week high of $114.00. The stock’s 50-day moving average is $98.87 and its 200-day moving average is $99.78. The company’s market cap is $8.261 billion.
NetSuite (NYSE:N) last announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $106.90 million for the quarter, compared to the consensus estimate of $105.70 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. Analysts expect that NetSuite will post $0.25 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBN Securities raised their price target on shares of NetSuite from $105.00 to $115.00 in a research note to investors on Monday, October 28th. They now have an “outperform” rating on the stock. Separately, analysts at Lazard Capital Markets raised their price target on shares of NetSuite from $110.00 to $121.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of NetSuite from $105.00 to $125.00 in a research note to investors on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $102.39.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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