NetApp, Inc. (NTAP) Receives Hold Rating from BMO Capital Markets

BMO Capital Markets reissued their hold rating on shares of NetApp, Inc. (NASDAQ:NTAP) in a report published on Wednesday. BMO Capital Markets currently has a $43.00 target price on the data storage provider’s stock.

Several other analysts also recently issued reports on the stock. Morgan Stanley reissued an underweight rating on shares of NetApp in a research note on Saturday, September 23rd. ValuEngine downgraded shares of NetApp from a buy rating to a hold rating in a research note on Friday, September 1st. Maxim Group reissued a buy rating and issued a $56.00 price objective on shares of NetApp in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of NetApp from a buy rating to a hold rating in a research note on Thursday, October 5th. Finally, Argus raised shares of NetApp from a hold rating to a buy rating in a research note on Monday, August 21st. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $47.89.

Shares of NetApp (NASDAQ NTAP) traded up $0.20 during midday trading on Wednesday, reaching $45.82. 4,393,500 shares of the company’s stock traded hands, compared to its average volume of 2,924,687. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $14,090.00, a P/E ratio of 19.17, a P/E/G ratio of 1.60 and a beta of 1.16. NetApp has a twelve month low of $34.38 and a twelve month high of $47.20.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 10.47% and a return on equity of 24.13%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. research analysts predict that NetApp will post 2.49 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was posted by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.themarketsdaily.com/2017/11/16/netapp-inc-ntap-receives-hold-rating-from-bmo-capital-markets.html.

In related news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total transaction of $88,169.12. Following the completion of the transaction, the executive vice president now directly owns 13,860 shares in the company, valued at $618,433.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew K. Fawcett sold 29,845 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the transaction, the senior vice president now owns 31,962 shares of the company’s stock, valued at $1,489,429.20. The disclosure for this sale can be found here. Insiders have sold 74,343 shares of company stock valued at $3,302,273 over the last 90 days. 0.47% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC acquired a new position in NetApp during the third quarter valued at $471,000. IFM Investors Pty Ltd acquired a new position in NetApp during the third quarter valued at $423,000. Afam Capital Inc. lifted its position in NetApp by 139.2% during the third quarter. Afam Capital Inc. now owns 19,009 shares of the data storage provider’s stock valued at $832,000 after purchasing an additional 11,063 shares during the period. Neuberger Berman Group LLC lifted its position in NetApp by 42.7% during the third quarter. Neuberger Berman Group LLC now owns 11,699 shares of the data storage provider’s stock valued at $512,000 after purchasing an additional 3,498 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in NetApp by 28.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,708 shares of the data storage provider’s stock valued at $1,085,000 after purchasing an additional 5,539 shares during the period. Institutional investors own 93.91% of the company’s stock.

NetApp Company Profile

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.

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