NetSuite Inc (N) is Downgraded by MKM Partners to Neutral, Raises Price Target to $ 109

NetSuite Inc (N) was Downgraded by MKM Partners to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 109 from a previous price target of $92 . Earlier the firm had a rating of “Buy ” on the company shares. MKM Partners advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on NetSuite Inc. NetSuite Inc was Upgraded by Goldman to ” Neutral” on Jul 29, 2016. NetSuite Inc was Downgraded by JP Morgan to ” Neutral” on Jul 29, 2016. Company shares were Downgraded by RBC Capital Mkts on Jul 29, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 109 from a previous price target of $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 $108.16 and hit $109.02 on the upside on Friday, eventually ending the session at $108.85, with a gain of 0.41% or 0.44 points. The heightened volatility saw the trading volume jump to 40,71,536 shares. Company has a market cap of $8,756 M.

In a different news, on Jul 29, 2016, Michael Forman (SVP, Global Controller) sold 1,500 shares at $97.73 per share price. According to the SEC, on Jul 29, 2016, James Mcgeever (President and COO) sold 36,160 shares at $90.00 per share price. On Jul 19, 2016, Evan Goldberg (CTO & Chairman of the Board) sold 20,000 shares at $79.98 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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