NetSuite Inc. (NYSE:N) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $0.13 per share for the quarter.
NetSuite (NYSE:N) last posted its earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. The firm had revenue of $230.80 million for the quarter, compared to analyst estimates of $230.58 million. NetSuite had a negative return on equity of 31.78% and a negative net margin of 16.21%. NetSuite’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. On average, analysts expect NetSuite to post $-1.42 EPS for the current fiscal year and $-1.8 EPS for the next fiscal year.
Shares of NetSuite Inc. (NYSE:N) opened at 100.49 on Wednesday. The firm’s market capitalization is $8.13 billion. The company’s 50-day moving average price is $107.85 and its 200 day moving average price is $90.24. NetSuite Inc. has a 12-month low of $51.75 and a 12-month high of $110.99.
A number of analysts have issued reports on N shares. MKM Partners downgraded NetSuite from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $92.00 to $109.00 in a report on Tuesday, August 2nd. BTIG Research reaffirmed a “neutral” rating on shares of NetSuite in a report on Monday, August 1st. Barclays PLC lifted their price target on NetSuite from $74.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. SunTrust Banks Inc. downgraded NetSuite from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $93.00 to $109.00 in a report on Thursday, August 11th. Finally, Goldman Sachs Group Inc. raised NetSuite from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $65.00 to $90.00 in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, twenty-nine have assigned a hold rating and four have given a buy rating to the stock. NetSuite presently has an average rating of “Hold” and an average target price of $90.82.
In other news, Chairman Evan Goldberg sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $109.77, for a total transaction of $2,195,400.00. Following the sale, the chairman now owns 190,082 shares of the company’s stock, valued at approximately $20,865,301.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Mcgeever sold 36,160 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $90.00, for a total value of $3,254,400.00. Following the sale, the insider now directly owns 379,507 shares in the company, valued at approximately $34,155,630. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Camden Asset Management L P CA purchased a new stake in shares of NetSuite during the second quarter valued at approximately $979,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of NetSuite by 2.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 997,664 shares of the company’s stock valued at $72,630,000 after buying an additional 22,855 shares during the period. American Century Companies Inc. raised its stake in shares of NetSuite by 17.0% in the second quarter. American Century Companies Inc. now owns 705,013 shares of the company’s stock valued at $51,325,000 after buying an additional 102,333 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of NetSuite during the second quarter valued at approximately $21,527,000. Finally, BlackRock Group LTD raised its stake in shares of NetSuite by 4.8% in the second quarter. BlackRock Group LTD now owns 160,143 shares of the company’s stock valued at $11,659,000 after buying an additional 7,372 shares during the period. 54.23% of the stock is currently owned by institutional investors and hedge funds.
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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