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Downgrade Alert for NetSuite (N)

By Amy Schwartz

NetSuite (NYSE:N) was downgraded from Buy to Neutral at MKM Partners today. The stock closed yesterday at $108.78 on volume of 1.8 million shares, above average daily volume of 652,000.

Based on a current price of $108.78, NetSuite is currently 6.3% above its average consensus analyst price target of $101.95. The stock should find initial support at its 200-day moving average (MA) of $79.63 and further support at its 50-day MA of $69.26.

In the past 52 weeks, NetSuite share prices have been bracketed by a low of $51.75 and a high of $109.36 and closed yesterday at $108.78, 110% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.7% while the 200-day MA has slid 0.4%.

NetSuite Inc. provides relationship management software solutions . The Company offers a comprehensive suite of enterprise resource planning, or ERP, customer relationship management, or CRM, and e-commerce solutions.

SmarTrend recommended that subscribers consider buying shares of NetSuite on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.01. Since that recommendation, shares of NetSuite have risen 32.8%. We continue to monitor N for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades netsuite

Ticker(s): N