Equity · Technology
Hewlett Packard Enterprise Company (HPE) perpetual futures
HPE perpetual futures on 15 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade HPEUSDT.
Hewlett Packard Enterprise provides servers, storage, networking, and services to help clients manage and analyze data globally.
Price chart
Interactive TradingView chart
TradingView symbol NYSE:HPE
Loads TradingView's third-party widget (about 1 MB) on demand.
Trading data
Perpetual market activity
15/15 live markets
Trading data
Perpetual market activity
Spot performance
Venue matrix
15 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 XT.com | Trade | HPE/USDT | Trading | $47.72 | 0.0% APR 0.000% every 8h | +8.4 bps | $14.9K | $403.3K | - | USDT | 20x | |
 Bybit | Trade | HPE/USDT | Trading | $47.73 | 0.0% APR 0.000% every 8h | +21.1 bps | $20.3K | $242.5K | $111.5K | USDT | 25x | |
 OKX | Trade | HPE/USDT | Trading | $47.71 | 0.0% APR 0.000% every 8h | +8.4 bps | $15.4K | $181.2K | $166.6K | USDT | 20x | |
 MEXC | Trade | HPE/USDT | Trading | $47.72 | 0.0% APR 0.000% every 8h | +10.5 bps | $477.3K | $116.5K | $708.6K | USDT | 50x | |
 Bitunix | Trade | HPE/USDT | Trading | $47.75 | +9.7% APR +0.00886% every 8h | +18.9 bps | $692.9K | $100.3K | $17.9K | USDT | 20x | |
 KuCoin | Trade | HPE/USDT | Trading | $47.78 | 0.0% APR 0.000% every 8h | +71.7 bps | $9.2K | $78.8K | $67.4K | USDT | 20x | |
 Bitget | Trade | HPE/USDT | Trading | $47.70 | 0.0% APR 0.000% every 8h | +6.3 bps | $139.5K | $34.7K | $293.2K | USDT | 20x | |
 Gate.io | Trade | HPE/USDT | Trading | $47.68 | 0.0% APR 0.000% every 8h | +27.4 bps | $3.1K | $4.8K | $47.6K | USDT | 20x | |
 HTX | Trade | HPE/USDT | Trading | $47.61 | 0.0% APR 0.000% every 8h | +37.9 bps | $4.1M | $2.1K | $7.1K | USDT | - | |
 Crypto.com Exchange | Trade | HPE/USD | Trading | $47.68 | -13.4% APR -0.00153% every 1h | +19.0 bps | $2.1K | $1.4K | $168.8 | USD | 50x | |
 Aster | Trade | HPEUSDT | Trading | $47.74 | 0.0% APR 0.000% every 8h | +31.6 bps | $77.1K | $24.9 | $942.3 | USDT | - | |
 Deepcoin | Trade | HPE/USDT | Trading | $47.75 | - | +6.3 bps | $63.7K | $2.6M | - | USDT | 25x | |
 BingX | Trade | HPE-USDT | Trading | $47.76 | +5.5% APR +0.00500% every 8h | +16.9 bps | $320.4K | $714.9K | - | USDT | - | |
 Binance | Trade | HPE/USDT | Trading | $47.73 | 0.0% APR 0.000% every 8h | +12.6 bps | $261.9K | $1.9M⚠ | $308.5K | USDT | - | |
 LBank | Trade | HPE/USDT | Trading | $47.75 | 0.0% APR 0.000% every 8h | +6.3 bps | $278.8K | $1.7M⚠ | $104.6 | USDT | 50x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| HPEBbStocks | $47.21 | -0.85% | $1.3M | $326k | BNB Smart Chain (BEP20) |
| HPERobinhood | $48.92 | +2.58% | $320 | $27k | Robinhood Chain |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 uniswapDEX · robinhood | HPE/USDG ↗ | $48.92 | $320 | $9k |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 11 of 15 venues absorb $10k · Typical cost: +13.9 bps – +51.2 bps
Too thin: Aster, KuCoin, Gate.io, Crypto.com Exchange
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
HPETightest spread
HPEHighest volume
HPEFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
No unusual perp activity right now.
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6Company events
6Peer comparison
Similar listed perpsRevenue mix
Latest annualAnalysts
Price targets in USD| Consensus rating | Hold |
|---|---|
| Average 12-month price target | $70 |
| 12-month target range (low – high) | $57 – $86 |
| Ratings in the provider's consensus | 40 |
Price targets as of 2026-11-13
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 5 | 10 | 10 | 0 | 0 |
| Oct 2026 | 5 | 10 | 10 | 0 | 0 |
| Sep 2026 | 5 | 10 | 10 | 0 | 0 |
| Aug 2026 | 5 | 10 | 9 | 0 | 0 |
| Jul 2026 | 4 | 9 | 10 | 0 | 0 |
| Jun 2026 | 4 | 9 | 11 | 1 | 1 |
| May 2026 | 3 | 8 | 12 | 1 | 1 |
| Apr 2026 | 3 | 9 | 12 | 0 | 0 |
| Mar 2026 | 3 | 9 | 12 | 0 | 0 |
| Feb 2026 | 3 | 8 | 12 | 0 | 0 |
| Jan 2026 | 3 | 8 | 12 | 0 | 0 |
| Dec 2025 | 3 | 7 | 12 | 0 | 0 |
Ownership
Institutional · 2026-Q3Reference market activity
HPE-PERPPrice performance
11Insider activity
FY2026 Q4Insider transactions
25HPE officer Rahim Rami sold 34,443 common shares at $58.0376 and received 831 restricted stock unit awards at $0.00 across two Form 4 filings' transactions.
HPE CEO Antonio F. Neri sold 250,000 shares of Common Stock in two open-market sales on 2026-10-05 at $68.3102 per share, leaving 1,182,393 shares owned.
Hewlett Packard Enterprise director Patricia F. Russo received awards of 616 common shares at $63.89 and 26 restricted stock units, per a Form 4 filed 2026-10-02. Awards are compensation, not open-market purchases.
HPE director Lane Raymond J. received two stock awards: 509 shares of Common Stock at $63.89 and 26 Restricted Stock Units. These are compensation grants, not open-market purchases.
HPE director Christopher P. Hsu received two awards: 13 restricted stock units and 509 shares of common stock at $63.89, per a Form 4 filed 2026-10-02.
HPE director Gary M. Reiner received an award of 587 common shares at $63.89 on Sept 30, 2026 (A-Award, compensation grant — not a purchase), leaving 587 shares owned.
HPE officer Rahim Rami sold 34,456 common shares at $61.42 and received 967 restricted stock units as a grant.
HPE director Gary M. Reiner sold 17,000 common shares at $56.9076 and received an award of 26 restricted stock units. He held 65,072 common shares after the sale.
HPE CEO Antonio F. Neri reported a gift of 1,682,393 common shares, a sale of 250,000 shares at $60.442, and 6,834 restricted stock units awarded.
Filings
49 · Latest SEC filingsHPE officer Rahim Rami sold 34,443 common shares at $58.0376 and received 831 restricted stock unit awards at $0.00 across two Form 4 filings' transactions.
HPE CEO Antonio F. Neri sold 250,000 shares of Common Stock in two open-market sales on 2026-10-05 at $68.3102 per share, leaving 1,182,393 shares owned.
Hewlett Packard Enterprise director Patricia F. Russo received awards of 616 common shares at $63.89 and 26 restricted stock units, per a Form 4 filed 2026-10-02. Awards are compensation, not open-market purchases.
HPE director Lane Raymond J. received two stock awards: 509 shares of Common Stock at $63.89 and 26 Restricted Stock Units. These are compensation grants, not open-market purchases.
HPE director Christopher P. Hsu received two awards: 13 restricted stock units and 509 shares of common stock at $63.89, per a Form 4 filed 2026-10-02.
HPE director Gary M. Reiner received an award of 587 common shares at $63.89 on Sept 30, 2026 (A-Award, compensation grant — not a purchase), leaving 587 shares owned.
HPE officer Rahim Rami sold 34,456 common shares at $61.42 and received 967 restricted stock units as a grant.
HPE director Gary M. Reiner sold 17,000 common shares at $56.9076 and received an award of 26 restricted stock units. He held 65,072 common shares after the sale.
HPE CEO Antonio F. Neri reported a gift of 1,682,393 common shares, a sale of 250,000 shares at $60.442, and 6,834 restricted stock units awarded.
Director David I. Goulden was awarded 3,495 Restricted Stock Units on 2026-07-24, a compensation grant rather than an open-market purchase. He now owns 3,495 shares directly.
This Form 3 filing shows David I. Goulden, a director at HPE, reporting an initial beneficial ownership position of 0 shares of common stock as of July 24, 2026.
HPE officer Karros Kirt P received 561 restricted stock units in awards, converted 40,282 RSUs into 40,282 common shares, had 16,607 shares withheld for tax, and sold 23,675 shares at $47.02.
HPE officer Rahim Rami reported a Form 4: gifts of Common Stock (655,427 shares acquired; 565,893 disposed), option exercises of 1,122,365 shares at $41.23 with 556,472 shares withheld for tax, 444,363 RSUs converted, and an award of 1,143 RSUs.
Director Patricia F. Russo was awarded 873 shares of HPE common stock as compensation on 2026-06-30, valued at $45.11 per share. She now directly owns 367,286 shares.
HPE director Christopher Hsu was awarded 240 shares of common stock (valued at $45.11 each) on June 30, 2026, bringing his total holdings to 240 shares.
Director Raymond J. Lane was awarded 720 shares of HPE common stock at $45.11 per share on 2026-06-30, bringing his total holdings to 990,284 shares.
HPE director Gary M. Reiner received a stock award of 831 common shares on 2026-06-30 (valued at $45.11/share), bringing his total holding to 831 shares.
Kirt Karros, HPE's SVP & Treasurer, received 24,427 Restricted Stock Units as compensation across 5 awards, and separately sold 18,785 common shares at $48.50 each.
Director Gary M. Reiner sold 20,000 HPE common shares at $54.7692 on the open market and separately gifted 1,700 shares.
Director Christopher P. Hsu was granted 4,433 Restricted Stock Units of HPE on 2026-06-01 as compensation, bringing his post-grant ownership to 4,433 units. No shares were purchased or sold.
This Form 3 filing shows Christopher P. Hsu, a director at HPE, reporting an initial ownership position of 0 shares of common stock as of June 1, 2026.
Dillow received an award of 911 RSUs, converted 31,292 RSUs into 31,292 common shares, and had 12,314 shares withheld to cover taxes.
Marie Myers (EVP & CFO) sold 93,583 shares of HPE common stock at $30.0069 on 2026-05-05. She also received 2,410 restricted stock units across 4 award grants, unrelated to a purchase.
HPE director Robert Calderoni was awarded 8,750 Restricted Stock Units as compensation on 2026-05-01, bringing his holdings to 8,750 shares. This was a grant, not an open-market purchase.
Director Bethany Mayer was awarded 8,750 restricted stock units (grant, not a purchase) and separately sold 6,482 common shares at $29.10 each.
Director Ann M. Livermore was granted 8,750 Restricted Stock Units of HPE on 2026-05-01 as compensation, bringing her holding of these RSUs to 8,750 shares.
Director Pamela L. Carter was awarded 8,750 Restricted Stock Units of Hewlett Packard Enterprise on 2026-05-01, a compensation grant rather than a purchase, bringing her total to 8,750 units.
Director Regina E. Dugan was awarded 8,750 restricted stock units (compensation, not an open-market purchase), bringing her holdings to 8,750 shares.
Director Frank A. DAmelio received a grant of 8,750 Restricted Stock Units on 2026-05-01, bringing his holdings to 8,750 shares. This was compensation, not an open-market purchase.
HPE director Jean M. Hobby was granted 8,750 restricted stock units on 2026-05-01 as compensation, not an open-market purchase. After this award, she owns 8,750 shares.
HPE director Raymond J. Lane was awarded 8,750 Restricted Stock Units on 2026-05-01 as compensation, not a market purchase; he now holds 8,750 units.
HPE director Gary M. Reiner was awarded 8,750 Restricted Stock Units on 2026-05-01 as compensation, bringing his holdings to 8,750 shares.
Director Charles H. Noski received a grant of 8,750 restricted stock units (RSUs) in HPE on 2026-05-01, a compensation award rather than a market purchase. He now owns 8,750 RSUs.
Director Patricia F. Russo was granted 8,750 Restricted Stock Units at HPE on 2026-05-01, a compensation award (not a purchase). She now owns 8,750 shares.
Transcripts
Earnings callsFY2026 Q22026-06-01
Earnings calls
AI summary
positiveHPE achieved exceptional second quarter performance with record revenue of $10.7 billion, up 40% year-over-year, driven by strong demand across networking, cloud, and AI infrastructure. Non-GAAP EPS of $0.79 increased 108%, significantly exceeding guidance, while free cash flow reached $915 million. The company raised its full-year FY2026 outlook substantially and provided initial FY2027 guidance of 8-12% revenue growth and 12-16% operating margin, reflecting confidence in durable demand driven by AI and infrastructure modernization.
Key takeaways
- Record Q2 revenue of $10.7B (+40% YoY) with orders more than doubling, creating record company backlog and strong visibility into second half
- Networking segment accelerated with double-digit normalized growth; AI systems orders of $1.8B bring cumulative bookings to $16.4B with $5.9B backlog
- Juniper integration running ahead of schedule with synergies exceeding $200M target; networking revenue $2.7B with Networking for AI orders now expected to reach at least $2B by year-end
- Free cash flow of $915M in Q2 brings first-half total to $1.6B (+75% vs prior comparable period); raising full-year FY2026 FCF outlook to at least $3.5B
Financial highlights
- Q2 Revenue: $10.7B (+40% YoY); Non-GAAP EPS: $0.79 (+108% YoY); Operating margin: 13.3%
- Cloud and AI revenue: $7.7B (+23% YoY); Networking revenue: $2.7B (+10% normalized); Server revenue increased 33%
- Q2 Free cash flow: $915M; Operating cash flow: $1.4B; Cash conversion cycle improved by 2 days
- FY2026 guidance raised to EPS $3.35-$3.45 (non-GAAP), revenue growth 29-33% reported (high teens normalized), consolidated operating profit growth 80-85%
Guidance
- Q3 FY2026: Revenue $11.5-12.1B; EPS $0.88-0.93 (non-GAAP); Networking revenue growth 73-78% reported (~10% normalized); Cloud and AI revenue growth high teens
- FY2026: Revenue growth 29-33% reported (high teens normalized); Cloud and AI revenue growth raised to low 20% range; Free cash flow at least $3.5B; Operating margin outlook raised
- FY2027 framework: Revenue growth 8-12% for total company and both segments; Operating margin 12-16% consolidated; EPS growth 12-16%; Free cash flow at least $4.5B; Net leverage target of 2x expected by end of FY2026
- Expects to reach 2x net leverage goal one year ahead of schedule by end of FY2026; plans to return at least 75% of free cash flow to shareholders via dividends and repurchases starting FY2027
Q&A themes
- Enterprise budgets remain durable with no evidence of demand cliff; customers prioritizing AI deployment and technology access; pricing actions being passed through to offset commodity cost inflation
- Supply chain is primary constraint on revenue conversion, not demand; networking and storage components remain constrained; long-term agreements lock capacity with allocation based on quarterly mix assessment
- AI systems profitability improving with mix shift toward enterprise and sovereign customers; service provider business managed selectively with focus on prudent working capital; enterprise and sovereign AI solutions expected to be more profitable mix
- Cross-portfolio sales early but accelerating; enterprise data center switching orders grew 20%; product integration across server, storage, networking driving larger customer engagements and deals
Risks
- Supply chain constraints on DRAM, NAND, and other semiconductor components limiting revenue conversion despite record orders; continued elevated component costs expected throughout FY2027
- Large backlog and strong pipeline rely on customer execution and timely demand conversion; lumpiness in AI systems business could create revenue timing variability
- FY2027 guidance assumes no significant supply availability improvements and continued elevated pricing environment; guidance does not include incremental supply upside for FY2026
FY2026 Q12026-03-09
Earnings calls
AI summary
positiveHPE delivered Q1 FY2026 revenue of $9.3 billion (up 18%) with record EPS of $0.65, exceeding guidance. The company raised full-year EPS guidance to $2.30-$2.50 and free cash flow outlook to at least $2 billion, driven by Networking segment outperformance and successful Juniper integration. The company is proactively managing DRAM and NAND cost pressures through supply securing, pricing actions, and demand shaping while maintaining profitability.
Key takeaways
- Networking segment revenue up 7% normalized with 23.7% operating margin, with data center switching orders up mid-40% and routing orders up mid-20%, supporting $1.7-1.9B cumulative networks for AI orders target
- Cloud & AI revenue declined 3% as expected due to AI Systems timing, but operating margin improved to 10.2% through pricing discipline and higher-margin product focus
- Free cash flow of $708 million in Q1 exceeded seasonal expectations; company raised full-year FCF guidance to at least $2 billion
- Completed Juniper sales integration and Phase 1 of integration on track; early synergies realized and expected to offset commodity cost inflation
- Strong customer demand continues despite memory cost increases, with no pushouts observed; customers accepting shorter quote cycles and pricing surcharges for supply certainty
Financial highlights
- Q1 revenue $9.3 billion, up 18% YoY; Networking up 7% normalized, Cloud & AI down 3%
- Record diluted EPS of $0.65 non-GAAP, $0.31 GAAP; raised FY2026 EPS guidance to $2.30-$2.50
- Free cash flow $708 million in Q1; raised full-year FCF guidance to at least $2 billion
- Gross margin improved sequentially to 36.6%; operating margin 12.7% consolidated, with Networking at 23.7% and Cloud & AI at 10.2%
Guidance
- FY2026 EPS guidance raised to $2.30-$2.50 (from prior range), GAAP EPS $1.02-$1.22
- Networking revenue growth raised to 68-73% reported (mid- to high single-digit normalized) driven by data center and routing strength
- Cloud & AI revenue growth lowered to mid- to high single-digit (from mid-single to low double-digit) due to prioritizing higher-margin orders amid supply constraints
- Free cash flow outlook increased to at least $2 billion; Q2 revenue expected $9.6-10 billion with Q3 as largest AI revenue quarter
Q&A themes
- GreenLake adoption expected to increase during commodity inflation cycle as customers seek flexible consumption models; HPE FS return on equity reached 27% supporting certified preowned offerings
- Memory pricing assumed throughout 2026 with triple-digit increases from CQ4 to CQ1 and continued double-digit increases expected; supply secured to meet guidance but insufficient to meet all customer demand
- Demand remains very strong with no customer pushouts despite price increases; customers accepting shorter quote cycles and repricing rights between quote and shipment
- AI Systems backlog of $5 billion entering Q2 primarily enterprise and sovereign orders; revenue expected weighted to back half of year with continued supply constraints limiting conversion
Risks
- Unprecedented DRAM and NAND supply tightness expected to persist well into 2027 with elevated component costs; company prioritizing higher-margin orders which may impact AI Systems revenue growth
- Tariff uncertainty following Supreme Court decision requires monitoring for potential business impact; Middle East business situation remains highly fluid
- Supply constraints limit ability to fulfill total customer demand despite strong order backlog; converted revenue dependent on achieving supply targets reflected in guidance
FY2025 Q42025-12-04
Earnings calls
AI summary
positiveHPE finished fiscal 2025 with Q4 revenue of $9.7 billion (up 14% YoY) and non-GAAP operating margin at record 12.2%, driven by Juniper Networks integration and disciplined execution. The company raised FY2026 non-GAAP EPS guidance to $2.25-$2.45 and free cash flow guidance to $1.7-$2.0 billion while reaffirming 5-10% pro forma revenue growth. Management expects to navigate DRAM and NAND cost increases through pricing actions and demand management.
Key takeaways
- Q4 non-GAAP diluted EPS of $0.62 exceeded guidance; full-year FY2025 non-GAAP EPS was $1.94 with free cash flow of $986 million
- Juniper integration delivering early synergies with networking segment Q4 operating margin at 23%; combined networking business growing on pro forma basis
- FY2026 networking revenue guidance raised to 65-70% on reported basis (~$11 billion) with mid-single-digit pro forma growth reflecting strong backlog and January sales force integration
- GreenLake ARR reached $3.2 billion (up 62% YoY) with 46,000 total customers; software and services represent over 80% of ARR
- Commodity cost mitigation underway: November pricing increases implemented; expecting to pass through majority of DRAM/NAND cost increases while monitoring demand elasticity
Financial highlights
- Q4 FY2025: Revenue $9.7B (+14% YoY), non-GAAP gross margin 36% (record), non-GAAP operating margin 12.2% (record), free cash flow $1.9B
- FY2025 full year: Revenue $34.3B (+14% YoY), non-GAAP EPS $1.94, free cash flow $986M, returned $886M to shareholders
- Networking segment Q4: Revenue $2.8B (+150% YoY), operating margin 23%
- Server segment Q4: Revenue $4.5B (-5% YoY), operating margin ~10%; AI system orders $1.9B in Q4, $6.8B for full FY2025
Guidance
- FY2026 revenue growth: 17-22% on reported basis, 5-10% on pro forma basis
- FY2026 non-GAAP diluted EPS: $2.25-$2.45 (raised from prior guidance), 53% expected in H2
- FY2026 free cash flow: $1.7-$2.0B (raised), includes ~$700M in Juniper and Catalyst program costs
- Q1 FY2026: Revenue $9.0-$9.4B with sequential decline consistent with historical seasonality; non-GAAP EPS $0.57-$0.61
Q&A themes
- Commodity cost pass-through: Pricing increases implemented in November; company expects to pass through majority of DRAM/NAND cost increases while using demand shaping and frame agreements with pricing protections
- AI server timing and lumpiness: Majority of backlog converting in H2 2026; sovereign customers have extended lead times; government spending delays cited for Q4 pushout
- Juniper integration: Sales force integration commencing January 1, 2026; unified compensation plan starting January; early synergies materializing with eight-year high operating margin in Q4
- Networking business deceleration: Guidance reflects conservatism around sales force integration, some commodity pressures, and Juniper's traditional back-end loaded revenue conversion pattern despite strong Q4 momentum
Risks
- Commodity cost inflation (DRAM and NAND) could pressure margins if pass-through to customers is insufficient or demand elasticity is higher than expected; server business most exposed
- AI server revenue lumpy and dependent on sovereign customer procurement timelines, data center readiness, and power/cooling availability; backlog conversion uncertain
- Juniper integration execution risk with critical sales force integration in January 2026; early stage integration could impact near-term growth if not executed smoothly
FY2025 Q32025-09-03
Earnings calls
AI summary
positiveHPE achieved record revenue with strong momentum across AI systems ($1.6B, up 25% YoY), networking ($1.7B, up 54% YoY including Juniper), and hybrid cloud ($1.5B, up 11% YoY). The company closed the Juniper Networks acquisition in July and expects at least $600 million in cost synergies over three years. Non-GAAP diluted EPS was $0.44, with free cash flow of $719 million.
Key takeaways
- Record Q3 revenue of $9.1B (+18% YoY) with strong performance across all three business segments: networking, server, and hybrid cloud
- AI systems revenue hit all-time high of $1.6B; cumulative AI orders since Q1 2023 now exceed $3.7B backlog with sovereign and enterprise representing over 50% of total
- Juniper acquisition closed July 2, providing one month of results; networking segment combined operating margin 20.8% with expectations for low 20% range in Q4
- Catalyst cost-reduction program underway with at least $350M gross savings target by FY2027, expecting 20% of savings by fiscal year-end 2025
- Traditional server margins returned to historical levels around 10-12%; Gen 12 adoption expected to accelerate through 2026
Financial highlights
- Q3 revenue of $9.1B, up 18% YoY; excluding Juniper, revenue of $8.7B exceeded guidance high end
- Non-GAAP gross margin 29.9%, down 190 bps YoY but up 50 bps QoQ; excluding Juniper, gross margin 28.3%
- Non-GAAP operating margin 8.5% including Juniper; excluding Juniper, 8.1% (down 190 bps YoY, up 10 bps QoQ)
- Non-GAAP diluted EPS of $0.44 toward high end of $0.40-$0.45 guidance range; free cash flow of $719 million
Guidance
- FY2025 revenue expected to grow 14-16% at constant currency; Q4 revenue guidance of $9.7B-$10.1B
- FY2025 non-GAAP gross margin above 30%; Q4 gross margin expected in mid-30% range
- FY2025 non-GAAP operating margin in upper 9% range at midpoint; Q4 expected in upper 11% range
- FY2025 non-GAAP EPS range raised to $1.88-$1.92; Q4 non-GAAP EPS guidance of $0.56-$0.60
Q&A themes
- Server margin progression: traditional servers returning to 10-12% historical levels; AI systems margins vary by customer segment (sovereign/enterprise vs service provider) with expectations for continued improvement through product mix and pricing discipline
- Juniper integration progress: employee onboarding underway; sales force harmonization (sales day one) expected end of calendar year; both companies incentivized to cross-sell complementary products; channel community excited about combined portfolio
- Networking market opportunity: HPE+Juniper expected to grow above market rates; traction in AI-focused deployments with model builders, neo-clouds, and service providers; data center switching and routing products becoming standard in large AI deployments
- Hybrid cloud and storage: significant POC conversion activity underway with VM Essentials and Morpheus; Alletra MP storage showing triple-digit YoY growth for third consecutive quarter; private cloud AI adding new enterprise customers at accelerating pace
Risks
- AI systems revenue expected to decline greater than 30% sequentially in Q4 following large deal shipment in Q3, indicating deal lumpiness and execution risk
- Net leverage ratio at 3.1x pro forma; company committed to reducing to 2x target by 2027, with debt paydown as priority alongside growth and profitability
- Product-related costs in Intelligent Edge segment impacting margins; gross margin compression in server, networking, and hybrid cloud YoY despite strong revenue growth
FY2025 Q22025-06-03
Earnings calls
FY2025 Q12025-03-06
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Nov 13, 2026, 02:14 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Computer Hardware
- Chief executive
- Antonio Fabio Neri
- Employees
- 67,000
- IPO date
- Oct 19, 2015
- Country
- US
- Exchange
- New York Stock Exchange
Rating factors
- Return on equityi
- 3/5
- Return on assetsi
- 3/5
- Debt to equityi
- 1/5
- Price to earningsi
- 2/5
- Price to booki
- 3/5
Company press releases
Congressional disclosures
Senate
House
Market cap history
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.11% | 39.9M |
| VOO | 0.13% | 34.8M |
| AFTY | 5.36% | 27.7M |
| VO | 0.79% | 26.9M |
| IVV | 0.13% | 17.6M |
| XUU.TO | 0.13% | 17.6M |
| SPY | 0.13% | 16.4M |
| FXAIX | 0.11% | 13.7M |
| VTV | 0.3% | 12M |
| VGT | 0.36% | 10M |
| XLK | 0.49% | 9.7M |
| CCIZX | 1.99% | 9.3M |
Analyst track record
How the analysts covering HPE have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 114 | 301 |
| Analysts | 24 | 30 |
| Buy / hold / sell | 72 / 42 / 0 | 146 / 155 / 0 |
| Upgrades / downgrades / initiations | 4 / 3 / 2 | 13 / 7 / 11 |
| Price targets hit / missed | 44 / 62 (42%) | 224 / 62 (78%) |
| Avg. return after a rating (TipRanks) | +16.3% | +90.9% |
| Best / worst call | +138.9% / -45.5% | +258.3% / -45.5% |
After buy calls on this stock: median 21-day move +2.6% vs S&P 500 +1.4% (n = 153)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Wamsi MohanBank of America Securities100% hit rate on this stock · 14 targets measuredBuyno targetNov 9, 2026
- Amit DaryananiEvercore ISI100% hit rate on this stock · 12 targets measuredHoldtarget $67.00Oct 1, 2026
- Tim LongBarclays89% hit rate on this stock · 9 targets measuredHoldtarget $77.00Oct 14, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 9, 2026 | Wamsi MohanBank of America SecuritiesNov 9, 2026 | BuyMaintained | –↗ | article ↗ |
| Nov 2, 2026 | Katherine MurphyGoldman SachsNov 2, 2026 | BuyReiterated | $75.00↗ | article ↗ |
| Oct 25, 2026 | Mark NewmanBernsteinOct 25, 2026 | HoldMaintained | $62.00↗ | article ↗ |
| Oct 14, 2026 | Tim LongBarclaysOct 14, 2026 | HoldDowngraded | $77.00↗ | article ↗ |
| Oct 13, 2026 | Mark NewmanBernsteinOct 13, 2026 | HoldMaintained | $62.00↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 114 ratings
Frequently asked questions
Where can I trade HPE perpetual futures?
Hewlett Packard Enterprise Company (HPE) perpetual futures trade on 15 crypto venues, including Deepcoin, Binance, LBank. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade HPE around the clock?
Yes. Unlike the underlying stock, HPE perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on HPE perpetuals?
Right now the HPE perp funding rate is 0.0% annualized (venue median), ranging from -13.4% to +9.7% across 15 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the HPE perp price compare to the Hewlett Packard Enterprise Company stock?
The venue-median HPE perp mark is $47.7 versus a reference stock price of $47.6, a basis of +0.3%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a HPE perpetual future?
A HPE perpetual is a derivative that tracks the price of Hewlett Packard Enterprise Company with no expiry date. It lets you take long or short exposure to Hewlett Packard Enterprise Company on crypto venues, around the clock.
What is HPEUSDT perpetual?
HPEUSDT is the symbol most crypto exchanges use for the Hewlett Packard Enterprise Company perpetual settled in USDT (Tether). It tracks the HPE share price through an index, trades 24/7 with leverage and never expires.
Embed this asset
<a href="https://perpequities.com/stocks/hpe-perp"><img src="https://perpequities.com/badge/hpe-perp.svg" width="240" height="64" alt="HPE perpetuals · perpequities.com" loading="lazy"></a>