DA Davidson Analysts Give NetSuite Inc. (N) a $109.00 Price Target
NetSuite Inc. (NYSE:N) received a $109.00 price objective from equities researchers at DA Davidson in a research report issued to clients and investors on Monday. The firm presently has a a “hold” rating on the stock. DA Davidson’s target price indicates a potential upside of 6.24% from the stock’s previous close.
Several other analysts have also issued reports on N. Mitsubishi UFJ Financial Group lowered shares of NetSuite from an “overweight” rating to a “neutral” rating in a research report on Friday, July 29th. Morgan Stanley upgraded shares of NetSuite from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $60.00 to $109.00 in a research report on Friday, July 29th. Nomura boosted their price target on shares of NetSuite from $95.00 to $109.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Raymond James Financial Inc. upgraded shares of NetSuite from an “underperform” rating to a “market perform” rating in a research report on Friday, July 29th. Finally, Cowen and Company upgraded shares of NetSuite from an “underperform” rating to a “market perform” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, twenty-nine have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $90.82.
NetSuite (NYSE:N) traded down 1.43% during mid-day trading on Monday, reaching $102.60. 962,841 shares of the company were exchanged. The company’s market capitalization is $8.30 billion. The company has a 50 day moving average of $108.89 and a 200-day moving average of $89.03. NetSuite has a 1-year low of $51.75 and a 1-year high of $110.99.
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NetSuite (NYSE:N) last announced its earnings results on Thursday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 last year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities research analysts forecast that NetSuite will post $0.49 EPS for the current year.
In related news, insider James Mcgeever sold 36,160 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 379,507 shares of the company’s stock, valued at approximately $34,155,630. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Evan Goldberg sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $79.80, for a total transaction of $1,596,000.00. Following the sale, the chairman now directly owns 236,081 shares in the company, valued at $18,839,263.80. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Creative Planning boosted its position in 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 period. Prudential Financial Inc. boosted its position in 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 period. Teachers Advisors Inc. boosted its position in 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 period. Pitcairn Co. boosted its position in 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 period. Finally, Stifel Financial Corp boosted its position in 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 period. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
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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