Barclays Capital Raises Price Target on NetSuite (N)
Research analysts at Barclays Capital (NYSE: BCS) lifted their target price on shares of NetSuite (NYSE: N) from $52.00 to $54.00 in a report released on Friday. The firm currently has an “overweight” rating on the stock.
Shares of NetSuite opened at 45.54 on Friday. NetSuite has a 52 week low of $25.32 and a 52 week high of $51.78. The company’s market cap is $3.163 billion.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.06 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.03 EPS by $0.03. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, analysts predict that NetSuite will post $0.06 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “neutral” rating on shares of NetSuite in a research note to investors on Friday. They noted that the move was a valuation call. Separately, analysts at Wunderlich raised their price target on shares of NetSuite from $34.00 to $42.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at CL King initiated coverage on shares of NetSuite in a research note to investors on Tuesday, March 13rd. They set a “sell” rating and a $29.00 price target on the stock.
NetSuite Inc. is a provider of cloud-based financials/ Enterprise Resource Planning (ERP) software suites.