Barclays Boosts NetSuite Price Target to $104.00 (N)
Investment analysts at Barclays lifted their price objective on shares of NetSuite (NYSE:N) from $96.00 to $104.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would indicate a potential upside of 17.26% from the company’s current price.
Shares of NetSuite (NYSE:N) traded down 0.43% on Thursday, hitting $88.31. The stock had a trading volume of 234,419 shares. NetSuite has a one year low of $69.48 and a one year high of $120.77. The stock’s 50-day moving average is $83.68 and its 200-day moving average is $87.40. The company’s market cap is $6.748 billion.
NetSuite (NYSE:N) last announced its earnings results on Thursday, July 24th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.03. The company had revenue of $131.80 million for the quarter, compared to the consensus estimate of $131.84 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, analysts predict that NetSuite will post $0.26 earnings per share for the current fiscal year.
In other NetSuite news, COO James Mcgeever unloaded 824 shares of the stock on the open market in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $87.12, for a total transaction of $71,786.88. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of other firms have also recently commented on N. Analysts at DA Davidson initiated coverage on shares of NetSuite in a research note on Tuesday, August 26th. They set a “buy” rating and a $109.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of NetSuite in a research note on Friday, July 25th. They now have a $100.00 price target on the stock, up previously from $90.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of NetSuite in a research note on Friday, July 25th. They now have a $115.00 price target on the stock, down previously from $125.00. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. NetSuite currently has an average rating of “Buy” and an average target price of $104.00.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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