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

Hewlett Packard Enterprise Co HPE reported better-than-expected second-quarter financial results on Tuesday.

Quarterly sales clocked in at $7.2 billion which beat the analyst consensus estimate of $6.823 billion. Hewlett Packard Enterprise reported quarterly earnings of 42 cents per share, which beat the analyst consensus estimate of 39 cents by 7.69%, according to data from Benzinga Pro.

"HPE delivered very solid results in Q2, exceeding revenue and non-GAAP EPS guidance. AI systems revenue more than doubled from the prior quarter, driven by our strong order book and better conversion from our supply chain," said Antonio Neri, president and CEO of Hewlett Packard Enterprise.

Hewlett Packard Enterprise sees third-quarter earnings of between 43 cents and 48 cents per share, versus the 47-cent estimate and third-quarter revenue in a range of $7.4 billion to $7.8 billion, versus the $7.46 billion estimate. The company sees full-year earnings between $1.85 and $1.95 per share, versus the $1.88 per share estimate.

Hewlett Packard Enterprise shares fell 2% to close at $17.60 on Tuesday.

These analysts made changes to their price targets on Hewlett Packard Enterprise after the company reported quarterly results.

• B of A Securities boosted the price target on Hewlett Packard Enterprise from $19 to $22. B of A Securities analyst Wamsi Mohan maintained a Neutral rating.
• Wells Fargo increased Hewlett Packard Enterprise price target from $19 to $22. Wells Fargo analyst Aaron Rakers maintained an Equal-Weight rating on the stock.

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