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 traded.
Several research firms recently weighed in on N. SunTrust Banks Inc. reiterated a “buy” rating and set a $93.00 price objective on shares of NetSuite in a research note on Thursday, May 5th. FBR & Co increased their price objective on shares of NetSuite from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. Morgan Stanley reiterated a “sell” rating on shares of NetSuite in a research note on Saturday, April 30th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price objective on shares of NetSuite in a research note on Friday, April 29th. Finally, MKM Partners increased their price objective on shares of NetSuite from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. Two analysts have rated the stock with a sell rating, twenty-nine have issued a hold rating and four have given a buy rating to the stock. NetSuite currently has an average rating of “Hold” and a consensus price target of $90.86.
The stock’s market cap is $8.81 billion. The company has a 50-day moving average of $92.69 and a 200 day moving average of $76.23.
NetSuite (NYSE:N) last issued its earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The firm earned $230.80 million during the quarter, compared to the consensus estimate of $230.58 million. During the same period in the previous year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. Analysts expect that NetSuite Inc. will post $0.49 earnings per share for the current fiscal year.
In other news, COO James Mcgeever sold 5,440 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $83.09, for a total value of $452,009.60. Following the completion of the transaction, the chief operating officer now owns 405,236 shares in the company, valued at $33,671,059.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Evan Goldberg sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $79.06, for a total transaction of $1,581,200.00. Following the completion of the transaction, the chairman now owns 269,943 shares of the company’s stock, valued at approximately $21,341,693.58. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in NetSuite stock. Schroder Investment Management Group raised its stake in NetSuite Inc. (NYSE:N) by 14.4% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,178 shares of the company’s stock after buying an additional 7,471 shares during the period. Schroder Investment Management Group owned approximately 0.07% of NetSuite worth $5,008,000 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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