THE NETSUITE INC. (N) UPGRADE AT DA DAVIDSON

December 9, 2016
The NetSuite Inc. (N) Upgrade at DA Davidson

NetSuite Inc. (NYSE:N) was upgraded by equities researchers at DA Davidson from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday.

N has been the subject of a number of other reports. MKM Partners lowered NetSuite from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $92.00 to $109.00 in a report on Tuesday, August 2nd. BTIG Research reissued a “neutral” rating on shares of NetSuite in a report on Monday, August 1st. Barclays PLC increased their price objective on NetSuite from $74.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. SunTrust Banks Inc. lowered NetSuite from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $93.00 to $109.00 in a report on Thursday, August 11th. Finally, Cowen and Company raised NetSuite from an “underperform” rating to a “market perform” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $89.99.

Shares of NetSuite (NYSE:N) traded down 3.89% during trading on Monday, reaching $90.34. The company had a trading volume of 938,250 shares. The stock’s market capitalization is $7.36 billion. NetSuite has a 12 month low of $51.75 and a 12 month high of $110.99. The stock’s 50-day moving average price is $103.17 and its 200-day moving average price is $92.30.

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NetSuite (NYSE:N) last posted its earnings results on Friday, October 21st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The company earned $243.90 million during the quarter, compared to analyst estimates of $249.97 million. NetSuite had a negative return on equity of 28.78% and a negative net margin of 14.93%. The business’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. Equities analysts forecast that NetSuite will post $0.55 earnings per share for the current fiscal year.

In related news, Chairman Evan Goldberg sold 20,000 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the sale, the chairman now owns 173,382 shares in the company, valued at $17,473,437.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Price T. Rowe Associates Inc /M sold 47,000 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $89.27, for a total transaction of $4,195,690.00. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of NetSuite by 65.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,515 shares of the company’s stock worth $110,000 after buying an additional 601 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of NetSuite during the second quarter worth approximately $127,000. DekaBank Deutsche Girozentrale boosted its position in shares of NetSuite by 62.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,047 shares of the company’s stock worth $150,000 after buying an additional 787 shares in the last quarter. M&T Bank Corp acquired a new position in shares of NetSuite during the third quarter worth approximately $239,000. Finally, Quantbot Technologies LP acquired a new position in shares of NetSuite during the second quarter worth approximately $157,000. Institutional investors and hedge funds own 54.45% of the company’s stock.