NetSuite Inc. (N) to Release Quarterly Earnings on Thursday
NetSuite Inc. (NYSE:N) is scheduled to be announcing its earnings results after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $0.13 per share for the quarter.
NetSuite (NYSE:N) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The firm had revenue of $230.80 million for the quarter, compared to analysts’ expectations of $230.58 million. NetSuite had a negative return on equity of 31.78% and a negative net margin of 16.21%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. On average, analysts expect NetSuite to post $-1.42 EPS for the current fiscal year and $-1.8 EPS for the next fiscal year.
NetSuite Inc. (NYSE:N) opened at 100.52 on Tuesday. The firm’s market cap is $8.13 billion. The company has a 50-day moving average price of $108.09 and a 200 day moving average price of $90.02. NetSuite Inc. has a 12 month low of $51.75 and a 12 month high of $110.99.
In related news, Chairman Evan Goldberg sold 3,061 shares of NetSuite stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $109.30, for a total value of $334,567.30. Following the completion of the sale, the chairman now owns 210,082 shares of the company’s stock, valued at approximately $22,961,962.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Mcgeever sold 36,160 shares of NetSuite stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $90.00, for a total transaction of $3,254,400.00. Following the completion of the sale, the insider now directly owns 379,507 shares of the company’s stock, valued at approximately $34,155,630. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its stake in NetSuite by 3.3% in the second quarter. Prudential Financial Inc. now owns 3,143 shares of the company’s stock valued at $229,000 after buying an additional 100 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in NetSuite during the second quarter valued at about $255,000. Raymond James & Associates acquired a new stake in NetSuite during the second quarter valued at about $314,000. BOKF NA raised its stake in NetSuite by 12.5% in the second quarter. BOKF NA now owns 4,577 shares of the company’s stock valued at $333,000 after buying an additional 508 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in NetSuite by 531.6% in the second quarter. Pacer Advisors Inc. now owns 5,154 shares of the company’s stock valued at $375,000 after buying an additional 4,338 shares during the last quarter. 54.23% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on N. MKM Partners lowered shares of NetSuite from a “buy” rating to a “neutral” rating and raised their price objective for the company from $92.00 to $109.00 in a research note on Tuesday, August 2nd. BTIG Research reiterated a “neutral” rating on shares of NetSuite in a research note on Monday, August 1st. Barclays PLC raised their price objective on shares of NetSuite from $74.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. SunTrust Banks Inc. lowered shares of NetSuite from a “buy” rating to a “neutral” rating and raised their price objective for the company from $93.00 to $109.00 in a research note on Thursday, August 11th. Finally, Raymond James Financial Inc. upgraded shares of NetSuite from an “underperform” rating to a “market perform” rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, twenty-nine have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $90.82.
NetSuite Company Profile
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.
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