NetApp Receives Positive Rating from TheStreet (NTAP)
NetApp (NASDAQ:NTAP)‘s stock had its “positive” rating reaffirmed by analysts at TheStreet in a research report issued to clients and investors on Tuesday, AR 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 compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Lake Street Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 21st. Separately, analysts at Macquarie initiated coverage on shares of NetApp in a research note to investors on Tuesday, January 14th. They set a “neutral” rating on the stock. Finally, analysts at Atlantic Securities initiated coverage on shares of NetApp in a research note to investors on Monday, January 13th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have assigned a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus target price of $44.34.
In other NetApp news, Chairman Daniel Warmenhoven sold 10,000 shares of NetApp stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.94, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 65,059 shares of the company’s stock, valued at approximately $2,923,751. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of NetApp (NASDAQ:NTAP) opened at 43.82 on Tuesday. NetApp has a 1-year low of $32.75 and a 1-year high of $45.96. The stock has a 50-day moving average of $41.39 and a 200-day moving average of $41.39. The company has a market cap of $14.935 billion and a P/E ratio of 27.23.
NetApp (NASDAQ:NTAP) last released its earnings data 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. Analysts expect that NetApp will post $2.70 EPS for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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