Hewlett Packard Enterprise Gets Price Target Cuts By Analysts After Q2 Results, Shares Drop
Portfolio Pulse from Lisa Levin
Hewlett Packard Enterprise (HPE) reported better-than-expected Q2 earnings but missed sales expectations. The company's revenue was $6.97 billion, missing estimates of $7.31 billion. HPE shares dropped 8.6% in pre-market trading. Barclays and Credit Suisse cut their price targets on HPE following the earnings announcement.
May 31, 2023 | 12:39 pm
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HPE's Q2 earnings beat expectations, but sales missed estimates, causing shares to drop 8.6% in pre-market trading. Barclays and Credit Suisse cut their price targets on HPE.
HPE's Q2 earnings beat expectations, but the company missed sales estimates, which led to a drop in share price. This negative news, combined with the price target cuts by Barclays and Credit Suisse, is likely to have a short-term negative impact on HPE's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100