NetSuite Inc (N) is Initiated by Goldman to Sell, Price Target at $68

NetSuite Inc (N) was Initiated by Goldman to “Sell” and the brokerage firm has set the Price Target at $68. Goldman advised their investors in a research report released on May 23, 2016.

Many Wall Street Analysts have commented on NetSuite Inc. Company shares were Reiterated by SunTrust on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .Company shares were Reiterated by Sun Trust Rbsn Humphrey on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .Company shares were Reiterated by Mizuho on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

On the company’s financial health, NetSuite Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $216.60 million for the quarter, compared to analysts expectations of $213.37 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

NetSuite Inc opened for trading at $77.3 and hit $78.25 on the upside on Friday, eventually ending the session at $78.12, with a gain of 1.75% or 1.34 points. The heightened volatility saw the trading volume jump to 6,14,307 shares. Company has a market cap of $6,284 M.

In a different news, on May 18, 2016, James Mcgeever (President and COO) sold 641 shares at $78.23 per share price. According to the SEC, on May 18, 2016, Evan Goldberg (CTO & Chairman of the Board) sold 20,000 shares at $78.15 per share price. On May 18, 2016, Marc Huffman (President WW Sales & Distrib) sold 3,314 shares at $78.20 per share price, according to the Form-4 filing with the securities and exchange commission.

NetSuite Inc. (NetSuite) is a provider of cloud-based financials enterprise resource planning (ERP) and omnichannel commerce software suites. The Company’s offerings include NetSuite NetSuite OneWorld NetSuite CRM+ NetSuite OpenAir PSA SuiteCommerce NetSuite POS TribeHR LightCMS Add-On Modules NetSuite Industry Editions and SuiteCloud Platform. Its main offering is NetSuite which provides core business management capabilities. NetSuite OneWorld and NetSuite CRM+ are designed for use by most types of businesses. NetSuite OpenAir (OpenAir) PSA is for professional services businesses. SuiteCommerce enables businesses to move from standalone transactional channels to an integrated commerce solution. NetSuite POS is a point-of-sale solution. TribeHR is a HCM solution. LightCMS is a Web-based software platform. SuiteCloud is the Company’s technology platform. It delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.

NetSuite Inc

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NetSuite Inc - Is it time to Sell?

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