Hewlett Packard Enterprise (NYSE:HPE) shares rose 4.7% to $53.28 in premarket trading on Wednesday ahead of the company’s fiscal third-quarter 2026 earnings report, scheduled for release after the market close.
The stock had closed the previous session at $50.87. The move also followed recent analyst actions and quarterly results from Dell, another company with exposure to AI infrastructure.
Major U.S. equity benchmarks were trading modestly lower in premarket trading, according to the supplied information.
Deutsche Bank Initiates HPE at Buy
Deutsche Bank initiated coverage of Hewlett Packard Enterprise with a Buy rating and a $62 price target on September 1.
Bank of America separately increased its price target on HPE to $82 from $80, citing the company’s position in AI infrastructure.
The ratings and price targets represent the respective analysts’ assessments and are not established future share prices.
Analysts Expect Revenue Growth Ahead of Earnings
Consensus estimates cited in the supplied information indicate that Hewlett Packard Enterprise is expected to report approximately 32% year-over-year revenue growth for the fiscal third quarter.
Analysts also expect earnings per share to more than double compared with the corresponding period a year earlier.
HPE has reported earnings per share above consensus estimates in each of its previous four quarters, with an average difference of approximately 16%, according to the supplied information. Previous results do not indicate whether the company will exceed expectations in its upcoming report.
HPE AI Server Backlog Stands at $6.3 Billion
Hewlett Packard Enterprise’s AI server backlog stands at $6.3 billion, with approximately two-thirds associated with enterprise and sovereign deployments, according to the supplied information.
The backlog provides an indication of contracted or expected demand but does not by itself determine the timing or amount of future revenue recognition.
Broadcom is also scheduled to report results on Wednesday, placing additional investor attention on companies with exposure to AI infrastructure.
HPE Earnings Scheduled After Market Close
Hewlett Packard Enterprise’s fiscal third-quarter report will provide an update on the company’s financial performance and its AI infrastructure operations.
The 4.7% premarket increase comes ahead of those results and after recent analyst actions. However, the extent to which individual factors, including analyst ratings, expectations for the earnings report or results from other technology companies, contributed to the share-price move cannot be established from the supplied information.
Hewlett Packard Enterprise stock price
