NetSuite Inc. (N) Trading 6.3% Higher
NetSuite Inc. (NYSE:N) traded up 6.3% during trading on Friday . The stock traded as high as $87.67 and last traded at $87.05, with a volume of 1,331,939 shares. The stock had previously closed at $81.90.
A number of equities research analysts have recently issued reports on N shares. FBN Securities dropped their price target on NetSuite from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, May 2nd. Morgan Stanley restated a “sell” rating on shares of NetSuite in a research report on Saturday, April 30th. Cowen and Company started coverage on NetSuite in a research report on Thursday, June 23rd. They issued an “underperform” rating and a $70.00 price target for the company. BMO Capital Markets restated a “hold” rating on shares of NetSuite in a research report on Wednesday, June 15th. Finally, Canaccord Genuity restated a “buy” rating and issued a $100.00 price target on shares of NetSuite in a research report on Friday, April 29th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $82.66.
The stock has a 50-day moving average of $78.07 and a 200 day moving average of $71.87. The stock’s market cap is $6.81 billion.
NetSuite (NYSE:N) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The company had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $213.45 million. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, equities research analysts forecast that NetSuite Inc. will post $0.45 EPS for the current year.
In other NetSuite news, SVP Douglas P. Solomon sold 585 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $76.94, for a total value of $45,009.90. Following the transaction, the senior vice president now owns 53,677 shares in the company, valued at approximately $4,129,908.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronald S. Gill sold 339 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $75.91, for a total transaction of $25,733.49. Following the completion of the transaction, the chief financial officer now owns 93,407 shares in the company, valued at approximately $7,090,525.37. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of N. Dimensional Fund Advisors LP raised its position in shares of NetSuite by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 58,827 shares of the company’s stock worth $4,978,000 after buying an additional 9,120 shares in the last quarter. Pitcairn Co. raised its position in shares of NetSuite by 48.1% in the fourth quarter. Pitcairn Co. now owns 14,846 shares of the company’s stock worth $1,256,000 after buying an additional 4,819 shares in the last quarter. Schroder Investment Management Group raised its position in shares of NetSuite by 14.4% in the fourth quarter. Schroder Investment Management Group now owns 59,178 shares of the company’s stock worth $5,008,000 after buying an additional 7,471 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of NetSuite by 4.3% in the fourth quarter. New York State Common Retirement Fund now owns 217,800 shares of the company’s stock worth $18,430,000 after buying an additional 8,900 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of NetSuite by 1.3% in the fourth quarter. Rhumbline Advisers now owns 38,200 shares of the company’s stock worth $3,232,000 after buying an additional 497 shares in the last quarter.
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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