Hewlett Packard Enterprise Gets Price Target Cuts By Analysts After Q2 Results, Shares Drop

Hewlett Packard Enterprise Co HPE reported better-than-expected earnings for its second quarter, while sales missed expectations.

The company’s revenue came in at $6.97 billion, which missed estimates of $7.31 billion. EPS of 52 cents surpassed estimates of 48 cents.

HPE sees third-quarter revenue of $6.7 billion to $7.2 billion versus estimates of $7.24 billion. The company expects third-quarter earnings to be between 44 cents and 48 cents per share versus estimates of 46 cents per share.

HPE raised its full-year earnings guidance to a range of $2.06 to $2.14 per share versus estimates of $2.07 per share.

HPE shares dropped 8.6% to $14.19 in today’s pre-market trading session.

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

• Barclays cut the price target on HPE from $18 to $16. Barclays analyst Tim Long maintained an Equal-Weight rating.
• Credit Suisse lowered the price target on HPE from $19 to $18. Credit Suisse analyst Shannon Cross maintained an Outperform rating.

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