NetSuite Inc. (N) Shares Gap Up to $108.70
NetSuite Inc. (NYSE:N) gapped up before the market opened on Thursday . The stock had previously closed at $108.66, but opened at $108.70. NetSuite shares last traded at $108.78, with a volume of 255,973 shares.
A number of brokerages recently commented on N. SunTrust Banks Inc. reiterated a “buy” rating and issued a $93.00 target price on shares of NetSuite in a research report on Thursday, May 5th. FBR & Co boosted their price target on NetSuite from $90.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, April 29th. Morgan Stanley reissued a “sell” rating on shares of NetSuite in a report on Saturday, April 30th. Canaccord Genuity reissued a “buy” rating and issued a $100.00 price target on shares of NetSuite in a report on Friday, April 29th. Finally, MKM Partners boosted their price target on NetSuite from $82.00 to $92.00 and gave the company a “buy” rating in a report on Friday, April 29th. Two research 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $90.86.
The firm’s market capitalization is $8.80 billion. The firm has a 50-day moving average price of $93.71 and a 200-day moving average price of $76.51.
NetSuite (NYSE:N) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. The business earned $230.80 million during the quarter, compared to analysts’ expectations of $230.58 million. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. On average, equities analysts predict that NetSuite Inc. will post $0.49 earnings per share for the current year.
In related news, SVP Michael Forman sold 541 shares of NetSuite stock in a transaction on Monday, June 6th. The stock was sold at an average price of $83.10, for a total transaction of $44,957.10. Following the completion of the transaction, the senior vice president now directly owns 24,241 shares of the company’s stock, valued at $2,014,427.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Mcgeever sold 36,160 shares of NetSuite stock in a transaction 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 transaction, the insider now directly owns 379,507 shares of the company’s stock, valued at $34,155,630. The disclosure for this sale can be found here.
An institutional investor recently raised its position in NetSuite stock. Dimensional Fund Advisors LP increased its position in NetSuite Inc. (NYSE:N) by 18.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 58,827 shares of the company’s stock after buying an additional 9,120 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of NetSuite worth $4,978,000 as of its most recent SEC filing.
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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