NetApp, Inc. (NTAP) Upgraded at ValuEngine

ValuEngine upgraded shares of NetApp, Inc. (NASDAQ:NTAP) from a hold rating to a buy rating in a research note released on Thursday.

Several other equities analysts have also recently issued reports on NTAP. BidaskClub upgraded NetApp from a hold rating to a buy rating in a research report on Wednesday, July 19th. Credit Suisse Group lifted their price target on NetApp from $37.00 to $40.00 and gave the company a neutral rating in a research report on Wednesday, August 9th. Robert W. Baird set a $44.00 target price on NetApp and gave the stock a hold rating in a report on Monday, August 14th. Maxim Group upgraded NetApp from a hold rating to a buy rating and lifted their target price for the stock from $46.00 to $56.00 in a report on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 target price on NetApp and gave the stock a buy rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $48.68.

Shares of NetApp (NASDAQ:NTAP) traded down $0.16 during mid-day trading on Thursday, hitting $52.95. The stock had a trading volume of 5,664,483 shares, compared to its average volume of 2,938,607. NetApp has a one year low of $34.72 and a one year high of $54.72. The firm has a market cap of $14,283.69, a PE ratio of 19.91, a PEG ratio of 1.85 and a beta of 1.16. The company has a current ratio of 1.67, a quick ratio of 1.44 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts predict that NetApp will post 2.53 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://sportsperspectives.com/2017/11/19/netapp-inc-ntap-upgraded-at-valuengine.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. NetApp’s dividend payout ratio is presently 34.33%.

In related news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was 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 approximately $748,282.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew K. Fawcett sold 29,845 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $46.60, for a total value of $1,390,777.00. Following the transaction, the senior vice president now directly owns 31,962 shares of the company’s stock, valued at approximately $1,489,429.20. The disclosure for this sale can be found here. Insiders have sold a total of 74,343 shares of company stock valued at $3,302,273 in the last three months. 0.47% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NTAP. Exane Derivatives lifted 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 worth $105,000 after purchasing an additional 2,394 shares during the last quarter. First Personal Financial Services lifted 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 worth $121,000 after purchasing an additional 2,754 shares during the last quarter. Krilogy Financial LLC acquired a new position in shares of NetApp during the 2nd quarter worth about $122,000. Quantbot Technologies LP acquired a new position in shares of NetApp during the 3rd quarter worth about $131,000. Finally, FTB Advisors Inc. increased its stake in NetApp by 50.2% during the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after acquiring an additional 1,519 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

About NetApp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply