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NetApp (NASDAQ:NTAP)‘s stock had its “sector perform” rating reaffirmed by RBC Capital in a research note issued on Thursday, Analyst Ratings Net reports. They currently have a $41.00 target price on the stock, down from their previous target price of $42.00. RBC Capital’s price objective indicates a potential downside of 7.09% from the stock’s previous close.

Shares of NetApp (NASDAQ:NTAP) traded down 3.47% on Thursday, hitting $41.11. 8,331,932 shares of the company’s stock traded hands. NetApp has a 52-week low of $32.75 and a 52-week high of $45.96. The stock has a 50-day moving average of $42.23 and a 200-day moving average of $41.54. The company has a market cap of $14.011 billion and a price-to-earnings ratio of 26.54. NetApp also was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 5,811,221 shares, a decrease of 27.1% from the January 15th total of 7,974,085 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily volume of 4,589,324 shares, the short-interest ratio is currently 1.3 days.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Analysts expect that NetApp will post $2.70 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “positive” rating on shares of NetApp in a research note on Friday, February 7th. Separately, analysts at Piper Jaffray upgraded shares of NetApp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 3rd. They now have a $52.00 price target on the stock, up previously from $38.00. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and an average price target of $44.92.

NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.

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