Headlines about NetApp (NASDAQ:NTAP) have trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. NetApp earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news stories about the data storage provider an impact score of 46.0931982101052 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern’s scoring:
- Cisco, NetApp, Teva Lead Active Stocks Late, Including This Likely Breakout; S&P 500 Futures (feedproxy.google.com)
- NetApp (NTAP) Issues Q4 Earnings Guidance (americanbankingnews.com)
- NetApp Inc. (NTAP) Announces $0.20 Quarterly Dividend (americanbankingnews.com)
- NetApp Historically Favors Long Play off Evening Earnings Moves – Nasdaq (nasdaq.com)
- Is The Stock Worthy? – NetApp Inc (NASDAQ: NTAP) – Alpha Beta Stock (alphabetastock.com)
Several equities analysts have recently commented on NTAP shares. UBS Group upped their target price on NetApp from $62.00 to $71.00 and gave the company a “buy” rating in a report on Friday, January 26th. Deutsche Bank increased their price objective on NetApp from $27.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, November 16th. Royal Bank of Canada increased their price objective on NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $43.00 to $62.00 in a report on Thursday, November 16th. Finally, Morgan Stanley reissued a “sell” rating and issued a $41.00 price objective (up from $38.00) on shares of NetApp in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.85.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts predict that NetApp will post 2.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
In other news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $55.91, for a total transaction of $110,478.16. Following the completion of the sale, the executive vice president now owns 11,884 shares in the company, valued at approximately $664,434.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 7,020 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.48, for a total value of $417,549.60. The disclosure for this sale can be found here. Insiders have sold a total of 176,629 shares of company stock valued at $9,568,956 in the last quarter. Insiders own 0.47% 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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