NetSuite Inc. (NYSE:N)‘s stock had its “market perform” rating restated by investment analysts at Cowen and Company in a research report issued to clients and investors on Monday.

A number of other research analysts also recently commented on N. Mitsubishi UFJ Financial Group downgraded shares of NetSuite from an “overweight” rating to a “neutral” rating in a research report on Friday, July 29th. SunTrust Banks Inc. downgraded shares of NetSuite from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $93.00 to $109.00 in a research report on Thursday, August 11th. BMO Capital Markets decreased their target price on shares of NetSuite from $109.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, July 29th. William Blair downgraded shares of NetSuite from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG downgraded shares of NetSuite from a “buy” rating to a “hold” rating and boosted their target price for the stock from $95.00 to $109.00 in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, twenty-nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $90.82.

Analyst Recommendations for NetSuite (NYSE:N)

Shares of NetSuite (NYSE:N) opened at 105.52 on Monday. The stock has a 50 day moving average of $109.20 and a 200 day moving average of $88.33. NetSuite has a 52-week low of $51.75 and a 52-week high of $110.99. The firm’s market capitalization is $8.54 billion.

NetSuite (NYSE:N) last released its earnings results on Thursday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The business had revenue of $230.80 million for the quarter, compared to the consensus estimate of $230.58 million. NetSuite had a negative net margin of 16.21% and a negative return on equity of 31.78%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. On average, analysts predict that NetSuite will post $0.49 EPS for the current fiscal year.

In related news, Chairman Evan Goldberg sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $109.77, for a total value of $2,195,400.00. Following the sale, the chairman now directly owns 190,082 shares in the company, valued at approximately $20,865,301.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Forman sold 357 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $109.39, for a total transaction of $39,052.23. Following the completion of the sale, the senior vice president now owns 22,986 shares in the company, valued at $2,514,438.54. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC increased its stake in shares of NetSuite by 1.0% in the first quarter. TIAA CREF Investment Management LLC now owns 102,339 shares of the company’s stock worth $7,009,000 after buying an additional 1,026 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of NetSuite by 0.4% in the first quarter. Teachers Advisors Inc. now owns 32,560 shares of the company’s stock valued at $2,230,000 after buying an additional 133 shares during the period. BlackRock Inc. increased its stake in shares of NetSuite by 33.9% in the first quarter. BlackRock Inc. now owns 30,923 shares of the company’s stock valued at $2,118,000 after buying an additional 7,834 shares during the period. BlackRock Group LTD increased its stake in shares of NetSuite by 2.4% in the first quarter. BlackRock Group LTD now owns 152,771 shares of the company’s stock valued at $10,463,000 after buying an additional 3,513 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in shares of NetSuite by 13.0% in the first quarter. BlackRock Japan Co. Ltd now owns 49,397 shares of the company’s stock valued at $3,383,000 after buying an additional 5,694 shares during the period. Institutional investors and hedge funds own 54.29% of the company’s stock.

About NetSuite

NetSuite Inc (NetSuite) is a provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites. The Company offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business operations in an integrated suite.

5 Day Chart for NYSE:N

Receive News & Stock Ratings for NetSuite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetSuite Inc. and related stocks with our FREE daily email newsletter.