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What to Expect from Hewlett Packard Enterprise in Fiscal 1Q18

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Part 4
What to Expect from Hewlett Packard Enterprise in Fiscal 1Q18 PART 4 OF 6

How HPE Stock Has Performed since Fiscal 4Q17 Results

HPE stock has risen over 7.5% since fiscal 4Q17 results

Hewlett Packard Enterprise (HPE) stock has increased 7.7% since the firm announced its fiscal 4Q17 results on November 21, 2017. This rise in the stock was driven by the company’s better-than-expected earnings as well as other factors. HPE stock closed at $15.47 on February 13, 2018, and is now trading 21% above its 52-week low of $12.81 and 19.2% below its 52-week high of $19.16.

How HPE Stock Has Performed since Fiscal 4Q17 Results

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Stock rose over 14% in January 2018

HPE stock rose over 14% last month after Morgan Stanley (MS) upgraded the stock’s rating from “equal weight” to “overweight.” Morgan Stanley analyst Katy Huberty expects HPE to post earnings and revenue growth over the next few years. According to Huberty, the recent tax reforms for US-based firms will mean an increase in cash balance for HPE, which will be used to increase IT spending.

Huberty’s research note states, “In light of enterprises underspending on IT over the past two decades and the related degradation in US productivity growth, we see a bull case of several years of stronger enterprise IT growth.” Morgan Stanley increased the stock price target to $19 from $14.

HPE stock has fallen almost 8% since the recent sell-off that impacted markets at the start of this month. In comparison, the S&P 500 (SPY) and the PowerShares QQQ ETF (QQQ) has generated returns of -5.5% and -6%, respectively, since February 1, 2018.

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