Hewlett Packard Enterprise Analysts Cut Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
Hewlett Packard Enterprise (HPE) reported mixed Q1 results with a 14% Y/Y revenue decline to $6.76 billion, missing consensus estimates. Adjusted EPS was 48 cents, above the 45 cents consensus. The company issued weak Q2 and FY24 guidance, with expected adjusted EPS and revenue below analyst estimates. Despite this, HPE shares rose 2.5% after the announcement. Barclays, Evercore ISI Group, and Wells Fargo adjusted their price targets and ratings on HPE following the results.
March 01, 2024 | 12:12 pm
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HPE reported mixed Q1 results with a revenue decline but beat EPS estimates. Issued weak guidance for Q2 and FY24. Shares rose 2.5% after the announcement. Analysts adjusted price targets.
Despite the mixed Q1 results and weak guidance, HPE's share price increase suggests a balanced market reaction. Adjustments in price targets by analysts reflect recalibrated expectations but do not indicate a drastic change in company outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100