NetSuite Inc (N) was Upgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Sell ” on the company shares. Goldman advised their investors in a research report released on Jul 29, 2016.
Many Wall Street Analysts have commented on NetSuite Inc. Company shares were Reiterated by BMO Capital Markets on Jul 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 109 from a previous price target of $90 .Shares were Downgraded by DA Davidson on Jul 28, 2016 to ” Neutral” and Lowered the Price Target to $ 109 from a previous price target of $130 .BMO Capital Markets Initiated NetSuite Inc on Jun 15, 2016 to “Market Perform”, Price Target of the shares are set at $90.
On the company’s financial health, NetSuite Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $230.77 million for the quarter, 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.
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 Companys 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 Companys technology platform. It delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.