NetApp Now Covered by Macquarie (NTAP)
Investment analysts at Macquarie started coverage on shares of NetApp (NASDAQ:NTAP) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
NetApp (NASDAQ:NTAP) traded up 1.23% during mid-day trading on Tuesday, hitting $40.19. The stock had a trading volume of 4,945,530 shares. NetApp has a 52-week low of $32.75 and a 52-week high of $44.65. The stock has a 50-day moving average of $40.59 and a 200-day moving average of $41.04. The company has a market cap of $13.697 billion and a price-to-earnings ratio of 24.74.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that NetApp will post $2.70 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NTAP. Analysts at Atlantic Securities initiated coverage on shares of NetApp in a research note to investors on Monday. They set a “neutral” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of NetApp in a research note to investors on Sunday, January 5th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of NetApp in a research note to investors on Friday, December 27th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $44.29.
In other NetApp news, Chairman Daniel Warmenhoven unloaded 10,000 shares of NetApp stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.01, for a total value of $410,100.00. Following the completion of the transaction, the chairman now directly owns 65,059 shares in the company, valued at approximately $2,668,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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