NetSuite Inc. (N) to Release Quarterly Earnings on Thursday
NetSuite Inc. (NYSE:N) is set to post its quarterly earnings results after the market closes on Thursday, October 20th. Analysts expect NetSuite to post earnings of $0.13 per share for the quarter.
NetSuite (NYSE:N) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $230.58 million. During the same quarter in the previous year, the business earned $0.02 EPS. NetSuite’s quarterly revenue was up 30.2% compared to the same quarter last year. 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 100.52 on Tuesday. NetSuite Inc. has a 1-year low of $51.75 and a 1-year high of $110.99. The firm’s market cap is $8.13 billion. The company has a 50 day moving average of $108.09 and a 200 day moving average of $90.02.
N has been the subject of several recent analyst reports. Pacific Crest reaffirmed a “hold” rating on shares of NetSuite in a research note on Friday, July 29th. Cowen and Company reaffirmed an “underperform” rating and issued a $70.00 target price on shares of NetSuite in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. raised shares of NetSuite from a “sell” rating to a “neutral” rating and upped their target price for the company from $65.00 to $90.00 in a research note on Thursday, July 28th. BTIG Research reaffirmed a “neutral” rating on shares of NetSuite in a research note on Monday, August 1st. Finally, DA Davidson downgraded shares of NetSuite from a “buy” rating to a “neutral” rating and lowered their target price for the company from $130.00 to $109.00 in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, twenty-nine have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $90.82.
In other news, Chairman Evan Goldberg sold 3,061 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $109.30, for a total value of $334,567.30. Following the transaction, the chairman now directly 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 available through the SEC website. Also, SVP Michael Forman sold 357 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $109.39, for a total transaction of $39,052.23. Following the completion of the transaction, the senior vice president now directly owns 22,986 shares in the company, valued at $2,514,438.54. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of N. American Century Companies Inc. raised its position 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 last quarter. Prudential Financial Inc. raised its position in shares of NetSuite by 3.3% in the second quarter. Prudential Financial Inc. now owns 3,143 shares of the company’s stock valued at $229,000 after buying an additional 100 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of NetSuite by 10.5% in the second quarter. Principal Financial Group Inc. now owns 8,707 shares of the company’s stock valued at $634,000 after buying an additional 830 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of NetSuite by 4.8% in the second quarter. BlackRock Investment Management LLC now owns 19,720 shares of the company’s stock valued at $1,436,000 after buying an additional 898 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of NetSuite by 3.1% in the second quarter. BlackRock Inc. now owns 31,885 shares of the company’s stock valued at $2,321,000 after buying an additional 962 shares during the last quarter. 54.23% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for NetSuite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetSuite Inc. and related companies with MarketBeat.com's FREE daily email newsletter.