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Hewlett Packard's (HPE) GreenLake Solution Selected by CEF

Hewlett Packard Enterprise HPE recently announced that the UK’s leading electrical wholesale supplier — City Electrical Factors (“CEF”) — has selected HPE’s edge-to-cloud platform, GreenLake, to accelerate its digital transformation journey.

The HPE GreenLake platform will help CEF optimize its IT infrastructure management and improve security using the disaster recovery capabilities of Zerto. GreenLake implementation will help the UK’s electrical wholesale supplier improve scalability and flexibility across IT and accelerate its cloud journey in additional regions.

HPE’s GreenLake solution offers customers better visibility into resource utilization across co-located and public cloud-based workloads. The services ensure the administration of applications and data. Additionally, HPE’s GreenLake service suite provides customers with an agile, flexible, pay-per-use cloud experience, thereby eliminating the need for any major upfront capital investment.

HPE’s GreenLake platform continues to win back-to-back deals. In September 2022, the leading French healthcare software provider, Maincare, adopted HPE GreenLake to power its highly secure cloud offering, Maincare Hosting Services.

Hewlett Packard Enterprise Company Price and Consensus

Hewlett Packard Enterprise Company Price and Consensus
Hewlett Packard Enterprise Company Price and Consensus

Hewlett Packard Enterprise Company price-consensus-chart | Hewlett Packard Enterprise Company Quote

In August, Steel Authority of India Limited, India’s largest steel producer, selected the HPE GreenLake edge-to-cloud platform for its Bokaro steel plant to modernize its critical SAP environment, accelerate its digital transformation agenda and reduce its environmental footprint.

In July, one of the leading cloud service providers in France, AntemetA, selected HPE GreenLake for Disaster Recovery. It is a new cloud-native data solution that protects data from the edge to the cloud to build a manageable, flexible and highly secure private hosting infrastructure to support strategic workloads and drive new business growth.

Hewlett Packard views AI, Industrial IoT and distributed computing as the next major markets. In 2018, the company decided to invest $4 billion through 2022 to enhance its capabilities across the aforementioned space and linked these businesses to its fast-growing networking business, Aruba Networks.

The company has been benefiting from strong executions in clearing backlogs, an improved supply chain and increased customer acceptance. Hewlett Packard’s efforts to shift its focus to higher-margin offerings like Intelligent Edge and Aruba Central Hyperconverged Infrastructure are aiding its bottom line.

Zacks Rank & Other Key Picks

Currently, HPE carries a Zacks Rank #2 (Buy). Shares of CACI have increased 2.6% over the past year.

Some other top-ranked stocks from the broader technology sector are Paylocity Holding PCTY, Zscaler ZS and Nutanix NTNX. Paylocity sports a Zacks Rank #1 (Strong Buy) at present, while Zscaler and Nutanix each carry a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Paylocity’s second-quarter fiscal 2023 earnings has remained unchanged at 70 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up 47 cents to $4.05 per share in the past 90 days.

Paylocity's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 51.2%. Shares of PCTY have risen 11.4% in the trailing 12 months.

The Zacks Consensus Estimate for Zscaler's second-quarter fiscal 2023 earnings has been revised 3 cents upward to 29 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up by a penny to $1.24 per share in the past 30 days.

ZS’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 27.3%. Shares of the company have declined 44.8% over the past year.

The Zacks Consensus Estimate for Nutanix's second-quarter fiscal 2023 earnings has been revised northward by 2 cents to 11 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved upward by 4 cents to 17 cents per share in the past 60 days.

Nutanix's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 86.1%. Shares of NTNX have risen 13.1% in the trailing 12 months.

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Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report

Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report

Nutanix (NTNX) : Free Stock Analysis Report

Zscaler, Inc. (ZS) : Free Stock Analysis Report

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