Analyst Consensus ?
ConsensusHold39 ratings
Bullish1846.1%
Neutral2051.3%
Bearish12.6%
Hewlett Packard Enterprise Company · HPE · FY2025 Q3 · Calendar Q3 2025
HPE: AI and Networking Drive Record Revenue, Integration Is Next Test
The supplied analysis supports a constructive operating thesis: record revenue, accelerating AI demand, networking growth, and improving free cash flow point to strong near-term momentum. The thesis remains conditional on converting the AI backlog profitably, sustaining server margins, and integrating Juniper without weakening cash flow or leverage.
Reported After market closeNYSETechnology
$81.44B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.44
Consensus $0.42
EPS surprise
+5.5%
Reported versus consensus
Reported revenue
$9.14B
Consensus $8.84B
Revenue surprise
+3.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+1.5%
Event window
SPY move
+0.8%
Same window
Abnormal move
+0.7%
Stock minus SPY
Volume
3.4×
Versus trailing sessions
Subsequent drift
+5.7%
Up to 20 sessions
HPESPY benchmark
Ask FN2 about HPE FY2025 Q3
Transcript, numbers and history already loaded
Why did HPE rise 1.5% after beating EPS estimates in FY2025 Q3?What changed in HPE's guidance and outlook in FY2025 Q3?Give me the bull and bear case for HPE after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, HPE’s narrative shifted from a pending Juniper transaction to a completed acquisition contributing revenue and ARR. AI demand strengthened, networking became a larger profit driver, and management maintained guidance while outlining integration and cost-synergy priorities.
Guidance delta
Management maintained guidance, with FY2025 revenue growth of 14–16% in constant currency and non-GAAP EPS of $1.88–$1.92.
Key takeaways
- Management reported record revenue of $9.1 billion, up 18% year over year, before a full quarter of Juniper results.
- AI systems revenue reached $1.6 billion, while AI orders nearly doubled sequentially and backlog reached $3.7 billion.
- Networking, including Juniper, grew 54% year over year; free cash flow improved to $719 million.
Management priorities
- Build the Juniper integration roadmap and align the sales force by year-end.
- Expand AI-native networking products, including Mist Agentic AI and AI mesh.
- Scale GreenLake Intelligence, hybrid-cloud operations, and the Gen12 server portfolio.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$65.22Current
$13Low
$47.28Average
$86High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | Outperform | Downgrade | Sep 14, 2026 |
| Argus Research | Buy | Buy | Maintain | Sep 4, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 3, 2026 |
| UBS | Neutral | Neutral | Maintain | Sep 3, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 3, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Sep 3, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Sep 3, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 3, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 3, 2026 |
| Barclays | Overweight | Overweight | Maintain | Sep 3, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 1, 2026 |
| B of A Securities | Buy | Buy | Maintain | Aug 31, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jun 3, 2026 |
| Susquehanna | Neutral | Neutral | Maintain | Jun 2, 2026 |
| Loop Capital | Buy | Hold | Upgrade | Jun 2, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jun 2, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Jun 2, 2026 |
| BWG Global | Positive | Mixed | Upgrade | Nov 24, 2025 |
| Stifel | Buy | Buy | Maintain | Dec 6, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 30, 2023 |
| Jefferies | Buy | Buy | Maintain | Apr 20, 2021 |
| Oppenheimer | Outperform | Outperform | Maintain | May 22, 2020 |
| RBC Capital | Perform | Sector Perform | Maintain | Apr 22, 2020 |
| Nomura | Neutral | Neutral | Maintain | Mar 23, 2020 |
| CFRA | Hold | Hold | Maintain | Mar 4, 2020 |
| Bank of America | Buy | Underperform | Upgrade | Oct 21, 2019 |
| Longbow Research | Neutral | Neutral | Maintain | Jun 21, 2019 |
| Maxim Group | Hold | Hold | Maintain | Dec 6, 2018 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 29, 2018 |
| Pivotal Research | Hold | Hold | Maintain | Oct 17, 2017 |
| Tigress Financial | Neutral | Neutral | Maintain | Apr 17, 2017 |
| Berenberg | Hold | Hold | Maintain | Apr 4, 2017 |
| Argus | Hold | Hold | Maintain | Feb 28, 2017 |
| Guggenheim | Neutral | Neutral | Maintain | Jan 4, 2017 |
| CLSA | Underperform | Underperform | Maintain | Oct 14, 2016 |
| Macquarie | Outperform | Neutral | Upgrade | Mar 21, 2016 |
| Baird | Neutral | Neutral | Maintain | Nov 20, 2015 |
| Brean Capital | Hold | Hold | Maintain | Nov 6, 2015 |
| Mizuho | Neutral | Neutral | Maintain | Nov 3, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $65.22. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $70 | $48.4 | +7.3% | Sep 3, 2026 |
| Morgan Stanley | Analyst unavailable | $67 | $48.59 | +2.7% | Sep 3, 2026 |
| Evercore ISI | Analyst unavailable | $65 | $49.12 | -0.3% | Sep 3, 2026 |
| UBS | David Vogt | $59 | $51.86 | -9.5% | Sep 3, 2026 |
| Piper Sandler | James Fish | $57 | $51.86 | -12.6% | Sep 3, 2026 |
| Barclays | Tim Long | $79 | $51.86 | +21.1% | Sep 3, 2026 |
| Wells Fargo | Aaron Rakers | $54 | $51.86 | -17.2% | Sep 3, 2026 |
| Raymond James | Simon Leopold | $86 | $51.86 | +31.9% | Sep 3, 2026 |
| Goldman Sachs | Katherine Murphy | $75 | $51.86 | +15.0% | Sep 3, 2026 |
| Deutsche Bank | Gianmarco Conti | $68 | $51.86 | +4.3% | Sep 3, 2026 |
| Deutsche Bank | Analyst unavailable | $62 | $52.25 | -4.9% | Aug 31, 2026 |
| Morgan Stanley | Analyst unavailable | $69 | $53.22 | +5.8% | Aug 10, 2026 |
| Argus Research | Jim Kelleher | $70 | $53.29 | +7.3% | Jun 3, 2026 |
| Goldman Sachs | Analyst unavailable | $79 | $56.14 | +21.1% | Jun 3, 2026 |
| Bernstein | Analyst unavailable | $62 | $59.23 | -4.9% | Jun 2, 2026 |
| UBS | David Vogt | $65 | $59.3 | -0.3% | Jun 2, 2026 |
| Susquehanna | Analyst unavailable | $65 | $58.45 | -0.3% | Jun 2, 2026 |
| KeyBanc | Analyst unavailable | $62 | $58.34 | -4.9% | Jun 2, 2026 |
| Piper Sandler | Analyst unavailable | $63 | $47.06 | -3.4% | Jun 2, 2026 |
| Wells Fargo | Analyst unavailable | $67 | $47.06 | +2.7% | Jun 2, 2026 |
| Barclays | Tim Long | $67 | $47.06 | +2.7% | Jun 2, 2026 |
| Loop Capital Markets | Ananda Baruah | $75 | $47.06 | +15.0% | Jun 2, 2026 |
| RBC Capital | Analyst unavailable | $70 | $47.06 | +7.3% | Jun 2, 2026 |
| Morgan Stanley | Erik Woodring | $71 | $47.06 | +8.9% | Jun 2, 2026 |
| Raymond James | Simon Leopold | $74 | $47.06 | +13.5% | Jun 2, 2026 |
| Truist Financial | Matthew Niknam | $69 | $47.06 | +5.8% | Jun 2, 2026 |
| Evercore ISI | Analyst unavailable | $80 | $47.06 | +22.7% | Jun 2, 2026 |
| Morgan Stanley | Erik Woodring | $33 | $33.8 | -49.4% | May 21, 2026 |
| Bernstein | Analyst unavailable | $35 | $32.62 | -46.3% | May 20, 2026 |
| Evercore ISI | Analyst unavailable | $40 | $33.83 | -38.7% | May 14, 2026 |
| Evercore ISI | Analyst unavailable | $30 | $25.07 | -54.0% | Mar 26, 2026 |
| Morgan Stanley | Erik Woodring | $23 | $21.68 | -64.7% | Feb 18, 2026 |
| Goldman Sachs | Analyst unavailable | $31 | $22.11 | -52.5% | Jan 13, 2026 |
| Argus Research | Analyst unavailable | $30 | $24.59 | -54.0% | Dec 10, 2025 |
| Barclays | Tim Long | $28 | $22.9 | -57.1% | Dec 5, 2025 |
| Raymond James | Simon Leopold | $31 | $22.9 | -52.5% | Dec 5, 2025 |
| Truist Financial | Analyst unavailable | $28 | $21.9 | -57.1% | Dec 1, 2025 |
| Piper Sandler | Analyst unavailable | $24 | $23.27 | -63.2% | Oct 21, 2025 |
| UBS | Analyst unavailable | $25 | $25.04 | -61.7% | Oct 16, 2025 |
| Goldman Sachs | Analyst unavailable | $27 | $24.93 | -58.6% | Oct 1, 2025 |
| Susquehanna | Mehdi Hosseini | $21 | $23.16 | -67.8% | Sep 4, 2025 |
| Raymond James | Analyst unavailable | $23 | $15.81 | -64.7% | Mar 7, 2025 |
| Morgan Stanley | Analyst unavailable | $24 | $15.81 | -63.2% | Mar 7, 2025 |
| Wells Fargo | Analyst unavailable | $17 | $15.81 | -73.9% | Mar 7, 2025 |
| Deutsche Bank | Matt Niknam | $25 | $21.92 | -61.7% | Dec 19, 2024 |
| Loop Capital Markets | Ananda Baruah | $24 | $23.64 | -63.2% | Dec 9, 2024 |
| Raymond James | Simon Leopold | $29 | $17.34 | -55.5% | Nov 18, 2024 |
| Deutsche Bank | Matt Niknam | $22 | $20.97 | -66.3% | Oct 9, 2024 |
| Barclays | Tim Long | $24 | $18.88 | -63.2% | Sep 25, 2024 |
| Citigroup | Asiya Merchant | $20 | $18.83 | -69.3% | Sep 23, 2024 |
| Bank of America Securities | Wamsi Mohan | $24 | $17.23 | -63.2% | Sep 17, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $22 | $17.8 | -66.3% | Sep 5, 2024 |
| Argus Research | Jim Kelleher | $26 | $19.59 | -60.1% | Jun 7, 2024 |
| UBS | David Vogt | $17 | $19.48 | -73.9% | Jun 5, 2024 |
| Susquehanna | Mehdi Hosseini | $20 | $20.11 | -69.3% | Jun 5, 2024 |
| Wells Fargo | Aaron Rakers | $22 | $17.6 | -66.3% | Jun 5, 2024 |
| Evercore ISI | Amit Daryanani | $22 | $17.6 | -66.3% | Jun 5, 2024 |
| Wells Fargo | Aaron Rakers | $19 | $17.14 | -70.9% | Apr 17, 2024 |
| Morgan Stanley | Meta Marshall | $16 | $15.26 | -75.5% | Feb 16, 2024 |
| Citigroup | Asiya Merchant | $18 | $15.76 | -72.4% | Nov 27, 2023 |
| Susquehanna | Mehdi Hosseini | $16 | $14.52 | -75.5% | May 31, 2023 |
| J.P. Morgan | Analyst unavailable | $20 | $15.58 | -69.3% | Dec 20, 2022 |
| Citigroup | Analyst unavailable | $13 | $16.7 | -80.1% | Dec 1, 2022 |
| Morgan Stanley | Analyst unavailable | $13 | $15.74 | -80.1% | Nov 30, 2022 |
| Barclays | Analyst unavailable | $18 | $15.46 | -72.4% | Nov 30, 2022 |
| Deutsche Bank | Analyst unavailable | $15 | $13.66 | -77.0% | Aug 31, 2022 |
| Morgan Stanley | Analyst unavailable | $14 | $13.66 | -78.5% | Aug 31, 2022 |
| J.P. Morgan | Analyst unavailable | $16 | $12.82 | -75.5% | Jul 14, 2022 |
| Evercore ISI | Analyst unavailable | $18 | $13.79 | -72.4% | Jun 28, 2022 |
| Raymond James | Simon Leopold | $19 | $13.42 | -70.9% | Jun 21, 2022 |
| Deutsche Bank | Sidney Ho | $16 | $13.72 | -75.5% | Jun 14, 2022 |
| Citigroup | Analyst unavailable | $13.5 | $14.58 | -79.3% | Jun 2, 2022 |
| Raymond James | Analyst unavailable | $20 | $15.78 | -69.3% | Jun 2, 2022 |
| Barclays | Analyst unavailable | $19 | $15.78 | -70.9% | Jun 2, 2022 |
| J.P. Morgan | Analyst unavailable | $18 | $14.91 | -72.4% | May 25, 2022 |
| Jefferies | Kyle McNealy | $20 | $15.52 | -69.3% | Apr 18, 2022 |
| Morgan Stanley | Meta Marshall | $15 | $15.38 | -77.0% | Apr 16, 2022 |
| Loop Capital Markets | Ananda Baruah | $16 | $16.55 | -75.5% | Mar 13, 2022 |
| Bernstein | Toni Sacconaghi | $20 | $16.99 | -69.3% | Mar 2, 2022 |
| Barclays | Tim Long | $20 | $16.83 | -69.3% | Jan 4, 2022 |
| Bank of America Securities | Wamsi Mohan | $19 | $14 | -70.9% | Dec 1, 2021 |
| Raymond James | Simon Leopold | $21 | $14 | -67.8% | Dec 1, 2021 |
| Goldman Sachs | Rod Hall | $14 | $15.7 | -78.5% | Nov 11, 2021 |
| Wells Fargo | Aaron Rakers | $20 | $15.12 | -69.3% | Sep 3, 2021 |
| Deutsche Bank | Sidney Ho | $18 | $15.04 | -72.4% | Sep 2, 2021 |
| Stifel Nicolaus | Matthew Sheerin | $20 | $15.58 | -69.3% | Jun 2, 2021 |
Track every rating change on HPE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHewlett Packard Enterprise (HPE) is a global technology firm that provides comprehensive solutions, empowering clients across the Americas, Europe, the Middle East, Africa, Asia Pacific, and Japan to efficiently capture, analyze, and utilize their data. The company's diverse product range features adaptable servers for various computing demands, including general-purpose, workload-optimized, and specific lines like HPE ProLiant rack and tower servers, HPE BladeSystem, and HPE Synergy. HPE also offers a full suite of storage solutions, from traditional tape and storage networking to advanced disk products such as HPE Modular Storage Arrays and HPE XP. Additionally, its portfolio includes specialized high-performance computing (HPC) offerings like HPE Apollo and Cray, alongside critical infrastructure platforms such as HPE Superdome Flex, HPE Nonstop, HPE Integrity, and HPE Edgeline.…
Historical context
All HPE earningsTechnology peers this season
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|---|---|---|---|---|
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-09-30T14:56:07.082170+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T14:56:07.079181+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-30. For educational purposes only; not investment advice.