Shares of NetSuite Inc. (NYSE:N) have received an average rating of “Hold” from the thirty-six research firms that are covering the firm. Two equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $92.51.
A number of research analysts have recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of NetSuite in a research note on Monday, August 22nd. SunTrust Banks Inc. cut shares of NetSuite from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $93.00 to $109.00 in a research note on Thursday, August 11th. Barclays PLC raised their price objective on shares of NetSuite from $74.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 2nd. MKM Partners cut shares of NetSuite from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $109.00 in a research note on Tuesday, August 2nd. Finally, Pacific Crest reissued a “hold” rating on shares of NetSuite in a research note on Friday, July 29th.
Shares of NetSuite (NYSE:N) traded up 0.6589% during mid-day trading on Tuesday, reaching $109.6075. The company’s stock had a trading volume of 463,803 shares. The company’s market capitalization is $8.87 billion. NetSuite has a 1-year low of $51.75 and a 1-year high of $110.28. The firm’s 50 day moving average price is $109.05 and its 200-day moving average price is $85.78.
NetSuite (NYSE:N) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ 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 earned $230.80 million during the quarter, compared to analysts’ expectations of $230.58 million. During the same period last year, the company posted $0.02 EPS. The company’s revenue was up 30.2% on a year-over-year basis. On average, analysts predict that NetSuite will post $0.49 EPS for the current year.
In other NetSuite news, SVP Michael Forman sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Evan Goldberg sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $109.77, for a total transaction of $2,195,400.00. Following the transaction, the chairman now directly owns 190,082 shares of the company’s stock, valued at $20,865,301.14. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake 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 in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of NetSuite during the second quarter worth $127,000. DekaBank Deutsche Girozentrale raised its stake 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 in the last quarter. Quantbot Technologies LP bought a new stake in shares of NetSuite during the second quarter worth $157,000. Finally, M&T Bank Corp bought a new stake in shares of NetSuite during the first quarter worth $202,000. 54.29% of the stock is owned by hedge funds and other 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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