Market Analysts see Hewlett Packard Enterprise Co [HPE] falling to $17. Time to buy?

Hewlett Packard Enterprise Co [NYSE: HPE] stock went on a downward path that fall over -0.84% on Monday, amounting to a one-week price decrease of less than -3.29%. The company report on February 1, 2024 at 9:00 AM that Hewlett Packard Enterprise and Eni Build One of the World’s Most Powerful Enterprise Supercomputers for AI.

Eni’s HPC6 supercomputer will accelerate AI modeling and simulation to boost energy transition.

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HPE will build Eni’s next-generation supercomputer to deliver artificial intelligence, modeling and simulation capabilities to sustain the path to energy transition.

Over the last 12 months, HPE stock dropped by -6.89%. The one-year Hewlett Packard Enterprise Co stock forecast points to a potential upside of 13.72. The average equity rating for HPE stock is currently 2.62, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.86 billion, with 1.30 billion shares outstanding and 1.29 billion shares in the current float. Compared to the average trading volume of 11.68M shares, HPE stock reached a trading volume of 8560612 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Hewlett Packard Enterprise Co [HPE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HPE shares is $17.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HPE stock is a recommendation set at 2.62. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Hewlett Packard Enterprise Co shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on January 16, 2024.

The Average True Range (ATR) for Hewlett Packard Enterprise Co is set at 0.39, with the Price to Sales ratio for HPE stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 3.52. Price to Free Cash Flow for HPE in the course of the last twelve months was 12.41 with Quick ratio for the last quarter at 0.65.

HPE Stock Performance Analysis:

Hewlett Packard Enterprise Co [HPE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.29. With this latest performance, HPE shares dropped by -10.12% in over the last four-week period, additionally sinking by -12.03% over the last 6 months – not to mention a drop of -6.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HPE stock in for the last two-week period is set at 39.44, with the RSI for the last a single of trading hit 36.72, and the three-weeks RSI is set at 41.59 for Hewlett Packard Enterprise Co [HPE]. The present Moving Average for the last 50 days of trading for this stock 16.26, while it was recorded at 15.45 for the last single week of trading, and 16.25 for the last 200 days.

Insight into Hewlett Packard Enterprise Co Fundamentals:

Hewlett Packard Enterprise Co’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 0.86.

HPE Stock EPS

With the latest financial reports released by the company, Hewlett Packard Enterprise Co posted 0.63/share EPS, while the average EPS was predicted by analysts to be reported at 0.54/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HPE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hewlett Packard Enterprise Co go to 2.47%.

Hewlett Packard Enterprise Co [HPE] Institutonal Ownership Details

The top three institutional holders of HPE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HPE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HPE stock with ownership which is approximately 5.8325%.