NetApp (NTAP) PT Raised to $40.00

NetApp (NASDAQ:NTAP) had its price objective boosted by equities research analysts at Deutsche Bank from $37.00 to $40.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “sell” rating on the data storage provider’s stock. Deutsche Bank’s price objective would suggest a potential downside of 34.04% from the company’s current price.

Several other research firms have also issued reports on NTAP. Zacks Investment Research lowered NetApp from a “buy” rating to a “hold” rating in a research report on Thursday. Lake Street Capital lifted their price target on NetApp from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Pivotal Research set a $62.00 price target on NetApp and gave the stock a “buy” rating in a research report on Thursday. DA Davidson set a $66.00 price target on NetApp and gave the stock a “hold” rating in a research report on Thursday. Finally, Citigroup lifted their price target on NetApp from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. NetApp has an average rating of “Hold” and an average target price of $55.37.

Shares of NetApp (NTAP) traded up $1.90 during trading on Thursday, reaching $60.64. The company’s stock had a trading volume of 5,798,500 shares, compared to its average volume of 2,875,769. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The stock has a market capitalization of $15,671.35, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.82 and a beta of 1.33. NetApp has a fifty-two week low of $37.43 and a fifty-two week high of $64.06.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.91 by $0.08. NetApp had a return on equity of 26.77% and a net margin of 11.49%. During the same quarter last year, the company earned $0.82 earnings per share. equities analysts expect that NetApp will post 2.84 EPS for the current year.

In related news, CEO George Kurian sold 75,000 shares of NetApp stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George T. Shaheen sold 36,916 shares of NetApp stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.10, for a total value of $1,960,239.60. The disclosure for this sale can be found here. Insiders sold a total of 176,629 shares of company stock valued at $9,568,956 over the last quarter. 0.47% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its holdings in NetApp by 68.1% in the 4th quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock worth $670,873,000 after buying an additional 4,914,409 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of NetApp during the 4th quarter valued at about $290,829,000. Bank of New York Mellon Corp grew its stake in shares of NetApp by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,322,669 shares of the data storage provider’s stock valued at $239,131,000 after purchasing an additional 260,763 shares during the period. APG Asset Management N.V. grew its stake in shares of NetApp by 22.9% during the 3rd quarter. APG Asset Management N.V. now owns 3,046,414 shares of the data storage provider’s stock valued at $133,311,000 after purchasing an additional 567,300 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of NetApp by 12.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,812,288 shares of the data storage provider’s stock valued at $123,066,000 after purchasing an additional 317,489 shares during the period. Institutional investors own 96.67% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “NetApp (NTAP) PT Raised to $40.00” was posted by Markets Daily and is owned by of Markets Daily. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.themarketsdaily.com/2018/02/15/netapp-ntap-pt-raised-to-40-00.html.

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

Latest News

Leave a Reply