BMO Capital Markets Reiterates Market Perform Rating for NetSuite (N)
NetSuite (NYSE:N)‘s stock had its “market perform” rating reiterated by BMO Capital Markets in a research note issued on Tuesday, Stock Ratings Network reports. They currently have a $80.00 target price on the stock, down from their previous target price of $115.00. BMO Capital Markets’ price objective would indicate a potential upside of 8.71% from the company’s current price.
In other NetSuite news, Chairman Evan Goldberg sold 20,000 shares of NetSuite stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the sale, the chairman now directly owns 69,652 shares of the company’s stock, valued at approximately $5,508,777. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
NetSuite (NYSE:N) traded up 3.55% during mid-day trading on Tuesday, hitting $76.20. The stock had a trading volume of 1,886,963 shares. NetSuite has a 52-week low of $72.82 and a 52-week high of $120.77. The stock has a 50-day moving average of $91.06 and a 200-day moving average of $100.3. The company’s market cap is $5.757 billion.
NetSuite (NYSE:N) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.04. The company had revenue of $123.00 million for the quarter, compared to the consensus estimate of $120.92 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 34.3% on a year-over-year basis. On average, analysts predict that NetSuite will post $0.26 earnings per share for the current fiscal year.
N has been the subject of a number of other recent research reports. Analysts at Deutsche Bank cut their price target on shares of NetSuite from $130.00 to $100.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at JMP Securities reiterated an “outperform” rating on shares of NetSuite in a research note on Tuesday. They now have a $101.00 price target on the stock, down previously from $121.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of NetSuite in a research note on Tuesday. They now have a $125.00 price target on the stock, down previously from $135.00. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.25.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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