Price Action Alert: What’s in NetSuite Inc After Achieving 52-Week High?

Price Action Alert: What's in NetSuite Inc After Achieving 52 Week High?

The stock of NetSuite Inc (NYSE:N) hit a new 52-week high and has $176.08 target or 60.00% above today’s $110.05 share price. The 5 months bullish chart indicates low risk for the $8.97B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $176.08 price target is reached, the company will be worth $5.38 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 287,642 shares traded hands. NetSuite Inc (NYSE:N) has risen 83.20% since February 29, 2016 and is uptrending. It has outperformed by 70.98% the S&P500.

Analysts await NetSuite Inc (NYSE:N) to report earnings on October, 27. They expect $-0.30 EPS, up 9.09% or $0.03 from last year’s $-0.33 per share. After $-0.35 actual EPS reported by NetSuite Inc for the previous quarter, Wall Street now forecasts -14.29% EPS growth.

NetSuite Inc (NYSE:N) Ratings Coverage

Out of 25 analysts covering NetSuite (NYSE:N), 4 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 16% are positive. NetSuite has been the topic of 49 analyst reports since August 20, 2015 according to StockzIntelligence Inc. On Thursday, September 10 the stock rating was initiated by BTIG Research with “Neutral”. TheStreet upgraded the shares of N in a report on Tuesday, August 18 to “Sell” rating. The firm earned “Neutral” rating on Friday, July 29 by JP Morgan. The stock of NetSuite Inc (NYSE:N) has “Buy” rating given on Friday, January 29 by Canaccord Genuity. The firm has “Hold” rating given on Friday, October 23 by Benchmark. The firm has “Hold” rating given on Friday, July 29 by Canaccord Genuity. The company was maintained on Friday, October 23 by FBR Capital. Susquehanna initiated it with “Neutral” rating and $104 target price in Thursday, August 20 report. The stock has “Neutral” rating given by M Partners on Tuesday, August 2. The stock of NetSuite Inc (NYSE:N) earned “Outperform” rating by FBN Securities on Monday, May 2.

According to Zacks Investment Research, “NetSuite, Inc. is the leading provider of on-demand, integrated business management software for growing and midsize businesses. With thousands of customers globally using NetSuite’s online products and professional services, companies are enabled to manage all key business operations in a single hosted system, including: customer relationship management; order fulfillment; inventory; accounting and finance, product assembly; ecommerce; Web site management; and employee productivity.”

Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.15, from 1.51 in 2016Q1. The ratio is positive, as 18 funds sold all NetSuite Inc shares owned while 52 reduced positions. 40 funds bought stakes while 76 increased positions. They now own 43.78 million shares or 7.04% less from 47.10 million shares in 2016Q1.
Blackrock Investment Management Llc has invested 0% of its portfolio in NetSuite Inc (NYSE:N). Ubs Asset Management Americas accumulated 91,587 shares or 0.01% of the stock. State Bank Of America Corporation De has invested 0% of its portfolio in NetSuite Inc (NYSE:N). Moreover, Cubist Systematic Strategies Ltd Company has 0.08% invested in NetSuite Inc (NYSE:N) for 18,278 shares. Tower Research Limited Liability Corporation (Trc) last reported 245 shares in the company. Moreover, Secor L P has 0.13% invested in NetSuite Inc (NYSE:N) for 14,709 shares. The Netherlands-based Apg Asset Mgmt Nv has invested 0.01% in NetSuite Inc (NYSE:N). Bnp Paribas Arbitrage holds 0% of its portfolio in NetSuite Inc (NYSE:N) for 1,515 shares. Moreover, Swiss Comml Bank has 0.01% invested in NetSuite Inc (NYSE:N) for 112,000 shares. Ing Groep Nv, a Netherlands-based fund reported 25,700 shares. Invesco Limited holds 0% of its portfolio in NetSuite Inc (NYSE:N) for 17,674 shares. The Florida-based State Board Of Administration Of Florida Retirement has invested 0.02% in NetSuite Inc (NYSE:N). The California-based California State Teachers Retirement System has invested 0.01% in NetSuite Inc (NYSE:N). Moreover, United Capital Financial Advisers Limited Liability has 0.04% invested in NetSuite Inc (NYSE:N) for 52,571 shares. Principal Grp Inc has 8,707 shares for 0% of their US portfolio.

More recent NetSuite Inc (NYSE:N) news were published by: Prnewswire.com which released: “Oracle Receives Department of Justice Clearance to Buy NetSuite” on September 27, 2016. Also Streetinsider.com published the news titled: “Form SC 14D9/A NETSUITE INC Filed by: NETSUITE INC” on September 27, 2016. Twst.com‘s news article titled: “Netsuite Inc.: NetSuite announces SuiteCloud Development Framework” with publication date: September 29, 2016 was also an interesting one.

N Company Profile

NetSuite Inc. (NetSuite), incorporated on April 11, 2007, is a well-known provider of cloud financials, enterprise resource planning (ERP) and omnichannel commerce software suites. The Firm also offers a suite of applications, including financial management, customer relationship management (CRM), e-commerce and retail management, commerce marketing automation, professional services automation (PSA) and human capital management (HCM) that enable companies to manage business in an integrated suite. The Company’s real-time dashboard technology provides a view into various business information. The Firm also offers customer support and professional services related to the support and implementation of its suite of applications. The Firm delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.

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