NetApp, Inc. (NASDAQ:NTAP) had its price objective raised by investment analysts at DA Davidson from $53.00 to $56.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the data storage provider’s stock. DA Davidson’s target price suggests a potential upside of 22.22% from the company’s previous close.
A number of other research firms also recently weighed in on NTAP. Royal Bank Of Canada increased their price objective on NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday. Piper Jaffray Companies set a $52.00 price objective on NetApp and gave the company a “buy” rating in a report on Tuesday. Barclays PLC upgraded NetApp from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $52.00 in a report on Thursday, November 9th. Zacks Investment Research downgraded NetApp from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Maxim Group restated a “buy” rating and issued a $56.00 price objective on shares of NetApp in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.15.
Shares of NetApp (NTAP) opened at $45.82 on Tuesday. The firm has a market capitalization of $12,306.34, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.60 and a beta of 1.16. NetApp has a 1-year low of $34.38 and a 1-year high of $47.20. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. equities analysts anticipate that NetApp will post 2.49 EPS for the current fiscal year.
In related news, SVP Matthew K. Fawcett sold 29,845 shares of NetApp stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $46.60, for a total value of $1,390,777.00. Following the completion of the transaction, the senior vice president now directly owns 31,962 shares in the company, valued at approximately $1,489,429.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total transaction of $83,011.76. Following the completion of the transaction, the executive vice president now owns 17,812 shares of the company’s stock, valued at $748,282.12. The disclosure for this sale can be found here. Insiders sold a total of 74,343 shares of company stock valued at $3,302,273 over the last quarter. 0.47% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exane Derivatives grew its position in shares of NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services grew its position in shares of NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares in the last quarter. Krilogy Financial LLC purchased a new position in shares of NetApp during the 2nd quarter valued at $122,000. Quantbot Technologies LP purchased a new position in shares of NetApp during the 3rd quarter valued at $131,000. Finally, FTB Advisors Inc. grew its position in shares of NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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