NetSuite Inc (N) Releases Earnings Results, Beats Expectations By $0.05 EPS

NetSuite Inc (N) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.03. The company posted revenue of $230.77 million in the period, compared to analysts expectations of $230.53 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on NetSuite Inc. BMO Capital Markets Initiated NetSuite Inc on Jun 15, 2016 to “Market Perform”, Price Target of the shares are set at $90.Goldman Initiated NetSuite Inc on May 23, 2016 to “Sell”, Price Target of the shares are set at $68.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 .

NetSuite Inc opened for trading at $108.32 and hit $108.55 on the upside on Thursday, eventually ending the session at $108.41, with a gain of 18.39% or 16.84 points. The heightened volatility saw the trading volume jump to 2,11,75,023 shares. Company has a market cap of $8,720 M.

In a different news, on Jul 19, 2016, Evan Goldberg (CTO & Chairman of the Board) sold 20,000 shares at $79.98 per share price. According to the SEC, on Jul 5, 2016, Ned Skinner (director) purchased 18,500 shares at $3.60 per share price. On Jun 15, 2016, Douglas P. Solomon (SVP, General Counsel & Sec) sold 250 shares at $79.61 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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