NetSuite Receives Outperform Rating from Credit Suisse (N)
NetSuite (NYSE:N)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse in a research note issued to investors on Tuesday, Stock Ratings Network reports. They currently have a $125.00 price target on the stock, down from their previous price target of $135.00. Credit Suisse’s price target indicates a potential upside of 69.86% from the stock’s previous close.
NetSuite (NYSE:N) traded up 3.55% on Tuesday, hitting $76.20. 1,886,963 shares of the company’s stock traded hands. 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 announced its earnings results on Monday, April 28th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.04 earnings per share. NetSuite’s revenue was up 34.3% compared to the same quarter last year. On average, analysts predict that NetSuite will post $0.26 earnings per share for the current fiscal year.
In other NetSuite news, Chairman Evan Goldberg sold 20,000 shares of the stock on the open market in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $79.09, for a total value 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 is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley 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. Separately, analysts at Nomura reiterated a “neutral” rating on shares of NetSuite in a research note on Tuesday. They now have a $100.00 price target on the stock. Finally, analysts at Northland Securities cut their price target on shares of NetSuite from $125.00 to $100.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently 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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