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Could Hewlett Packard Enterprise Company (HPE) Recover After Forming a Multiple Bottom?

Hewlett Packard Enterprise Company (NYSE:HPE) Logo

The stock of Hewlett Packard Enterprise Company (HPE) shows a multiple bottoms pattern with $14.31 target or 9.00 % below today’s $15.72 share price. The 8 months chart pattern indicates high risk for the $23.13 billion company. It was reported on Nov, 10 by Finviz.com. If the $14.31 price target is reached, the company will be worth $2.08 billion less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 3.26% or $0.53 during the last trading session, reaching $15.72. About 10.72M shares traded or 1.89% up from the average. Hewlett Packard Enterprise Company (NYSE:HPE) has risen 25.00% since November 10, 2017 and is uptrending. It has outperformed by 9.38% the S&P500.

Analysts await Hewlett Packard Enterprise Company (NYSE:HPE) to report earnings on November, 20. They expect $0.43 EPS, up 48.28 % or $0.14 from last year’s $0.29 per share. HPE’s profit will be $632.80 million for 9.14 P/E if the $0.43 EPS becomes a reality. After $0.44 actual EPS reported by Hewlett Packard Enterprise Company for the previous quarter, Wall Street now forecasts -2.27 % negative EPS growth.

More notable recent Hewlett Packard Enterprise Company (NYSE:HPE) news were published by: Globenewswire.com which released: “HPE to Webcast 2018 Securities Analyst Meeting” on October 17, 2018, also Globenewswire.com with their article: “Hewlett Packard Enterprise Provides Business Updates and Announces FY19 Outlook” published on October 24, 2018, Bizjournals.com published: “Major tech co. gives $10M to University of Houston’s Data Science Institute” on November 02, 2018. More interesting news about Hewlett Packard Enterprise Company (NYSE:HPE) were released by: Seekingalpha.com and their article: “Hewlett Packard Enterprise: Strengthening Growth Pillars Through Strategic Streamlining” published on October 25, 2018 as well as Bizjournals.com‘s news article titled: “Plans revealed for Hewlett Packard Enterprise’s new Houston-area campus” with publication date: October 31, 2018.

Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises. The company has market cap of $23.13 billion. It operates through Enterprise Group, Financial Services, and Corporate Investments divisions. It has a 7.86 P/E ratio. The Enterprise Group segment offers industry standard servers and mission-critical servers to address the array of its customers' computing needs; converged storage solutions, including 3PAR StoreServ, StoreOnce, and StoreVirtual products, as well as traditional storage solutions, such as tape, storage networking, and legacy external disk products for enterprise and small- and medium-size business; software-defined switches, routers, wireless local area network equipment, network virtualization equipment, security software, location services, and network management products; and data center care, proactive care, and technology consulting services, as well as Aruba Services, and communications and media solutions.

Hewlett Packard Enterprise Company (NYSE:HPE) Ratings Chart

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