NetApp Receives New Coverage from Analysts at Cross Research (NTAP)
Investment analysts at Cross Research assumed coverage on shares of NetApp (NASDAQ:NTAP) in a note issued to investors on Tuesday, Stock Ratings Network.com reports. The firm set a “hold” rating on the stock.
Shares of NetApp (NASDAQ:NTAP) opened at 42.76 on Tuesday. NetApp has a 1-year low of $26.26 and a 1-year high of $43.13. The stock has a 50-day moving average of $41.74 and a 200-day moving average of $37.54. The company has a market cap of $14.542 billion and a P/E ratio of 29.82.
NetApp (NASDAQ:NTAP) last released its earnings data on Wednesday, August 14th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that NetApp will post $2.75 earnings per share for the current fiscal year.
NTAP has been the subject of a number of other recent research reports. Analysts at UBS AG upgraded shares of NetApp (NASDAQ:NTAP) from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $50.00 price target on the stock. Separately, analysts at TheStreet reiterated a “positive” rating on shares of NetApp (NASDAQ:NTAP) in a research note to investors on Tuesday, September 3rd. Finally, analysts at TheStreet reiterated a “buy” rating on shares of NetApp (NASDAQ:NTAP) in a research note to investors on Friday, August 23rd.
One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.35.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Investors of record on Monday, October 21st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, October 17th.
In other NetApp news, Chairman Daniel Warmenhoven unloaded 41,758 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $41.83, for a total value of $1,746,737.14. Following the sale, the chairman now directly owns 64,748 shares in the company. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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