Hewlett Packard Enterprise stock climbs 17.5% YTD, showing positive growth and strong revenue outlook

From Nasdaq: 2024-10-02 09:30:00

Hewlett Packard Enterprise (HPE) stock has gained 17.5% YTD but underperformed industry and sector averages. With a low P/E ratio, investors question if it’s a good time to buy. HPE’s GreenLake adoption is growing, with 37,000 users and $1.7 billion in revenue. Partnerships with NVIDIA and Microsoft have boosted AI growth, with $6.2 billion in cumulative orders.

HPE’s Q4 fiscal 2024 revenue outlook is strong at $8.1-$8.4 billion, showing 12.5% YoY growth. With a Zacks Rank #2 and VGM score of B, HPE is seen as a compelling investment. Expert recommendations suggest HPE is on a positive trajectory, making it an attractive long-term prospect for investors.

HPE’s recent acquisitions of Morpheus Data and pending acquisition of Juniper Networks aim to simplify IT complexity and expand market share. HPE’s AI products and services have generated $1.3 billion in quarterly revenue and have $3.4 billion in backlogs, indicating strong demand and growth in this sector.



Read more at Nasdaq: Hewlett Packard Enterprise Climbs 18% YTD: What Should Investors Do?