NetSuite Inc. (NYSE:N)‘s stock had its “market perform” rating reaffirmed by stock analysts at Cowen and Company in a research note issued on Monday.
N has been the topic of several other reports. BTIG Research reiterated a “neutral” rating on shares of NetSuite in a research note on Monday, August 22nd. Deutsche Bank AG downgraded NetSuite from a “buy” rating to a “hold” rating and raised their price target for the stock from $95.00 to $109.00 in a research note on Thursday, July 28th. JPMorgan Chase & Co. downgraded NetSuite from an “overweight” rating to a “neutral” rating and set a $109.00 price target on the stock. in a research note on Friday, July 29th. Raymond James Financial Inc. upgraded NetSuite from an “underperform” rating to a “market perform” rating in a research note on Friday, July 29th. Finally, Mitsubishi UFJ Financial Group downgraded NetSuite from an “overweight” rating to a “neutral” rating in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, twenty-nine have assigned a hold rating and four have issued a buy rating to the company’s stock. NetSuite has an average rating of “Hold” and an average price target of $90.82.
NetSuite (NYSE:N) opened at 102.60 on Monday. NetSuite has a 12 month low of $51.75 and a 12 month high of $110.99. The stock’s 50 day moving average price is $108.89 and its 200-day moving average price is $89.03. The company’s market capitalization is $8.30 billion.
NetSuite (NYSE:N) last issued its earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. NetSuite had a negative return on equity of 31.78% and a negative net margin of 16.21%. The business had revenue of $230.80 million for the quarter, compared to the consensus estimate of $230.58 million. During the same period last year, the business posted $0.02 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts predict that NetSuite will post $0.49 EPS for the current fiscal year.
In related news, Chairman Evan Goldberg sold 3,061 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $109.30, for a total value of $334,567.30. Following the completion of the transaction, the chairman now owns 210,082 shares of the company’s stock, valued at $22,961,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Forman sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $97.73, for a total transaction of $146,595.00. Following the completion of the transaction, the senior vice president now directly owns 24,884 shares of the company’s stock, valued at approximately $2,431,913.32. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of N. BNP Paribas Arbitrage SA increased its position in shares of NetSuite by 65.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,515 shares of the company’s stock worth $110,000 after buying an additional 601 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of NetSuite during the second quarter worth about $127,000. DekaBank Deutsche Girozentrale increased its position in shares of NetSuite by 62.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,047 shares of the company’s stock worth $150,000 after buying an additional 787 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of NetSuite during the second quarter worth about $157,000. Finally, M&T Bank Corp acquired a new position in shares of NetSuite during the first quarter worth about $202,000. 54.29% of the stock is owned by institutional investors.
NetSuite Company Profile
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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