NetApp Rating Reiterated by TheStreet (NTAP)
NetApp (NASDAQ:NTAP)‘s stock had its “buy” rating restated by research analysts at TheStreet in a report released on Tuesday, Stock Ratings Network reports.
The analysts wrote, “NetApp (NTAP) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Shares of NetApp (NASDAQ:NTAP) traded down 0.76% on Tuesday, hitting $41.60. 1,165,378 shares of the company’s stock traded hands. NetApp has a 52 week low of $26.26 and a 52 week high of $44.65. The stock’s 50-day moving average is $42.57 and its 200-day moving average is $38.84. The company has a market cap of $14.148 billion and a P/E ratio of 29.23.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 14th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. NetApp’s revenue was up 4.9% compared to the same quarter last year.
NTAP has been the subject of a number of other recent research reports. Analysts at Barclays Capital downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, September 24th. They now have a $46.00 price target on the stock. Separately, analysts at William Blair downgraded shares of NetApp from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, September 20th. Finally, analysts at Cantor Fitzgerald initiated coverage on shares of NetApp in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $53.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.66.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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