These Analysts Increase Their Forecasts On Hewlett Packard Enterprise After Strong Results

Hewlett Packard Enterprise Company HPE reported better-than-expected financial results for its fourth quarter on Thursday.

Hewlett Packard reported quarterly earnings of 58 cents per share which beat the analyst consensus estimate of 56 cents per share. The company reported quarterly sales of $8.46 billion which beat the analyst consensus estimate of $8.26 billion.

“HPE delivered an exceptional fourth quarter with record quarterly revenue, capping off a strong FY 2024. We exceeded our full-year commitments for revenue, EPS, and free cash flow,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Our differentiated portfolio across hybrid cloud, AI, and networking, which will be further enhanced with the pending Juniper Networks acquisition, positions us well to capitalize on the market opportunity, accelerating value for our shareholders.”

The company also said it sees first-quarter earnings of 47 cents to 52 cents per share, versus market estimates of 49 cents per share

HPE shares climbed 10.8% to trade at $24.00 on Friday.

These analysts made changes to their price targets on HPE following earnings announcement.

• Stifel analyst Matthew Sheerin maintained Hewlett Packard with a Buy and raised the price target from $22 to $25.
• Citigroup analyst Asiya Merchant upgraded the stock from Neutral to Buy and raises the price target from $23 to $26.

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