NetApp PT Lowered to $38.00 (NTAP)
Equities researchers at RBC Capital dropped their price target on shares of NetApp (NASDAQ:NTAP) from $41.00 to $38.00 in a research report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 13.13% from the company’s current price.
NTAP has been the subject of a number of other recent research reports. Analysts at Raymond James downgraded shares of NetApp from an “outperform” rating to a “market perform” rating in a research note on Monday. Separately, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, May 7th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of NetApp in a research note on Monday, April 21st. They now have a $36.00 price target on the stock, down previously from $43.00. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.73.
NetApp (NASDAQ:NTAP) opened at 33.59 on Tuesday. NetApp has a one year low of $33.34 and a one year high of $45.96. The stock has a 50-day moving average of $36.01 and a 200-day moving average of $39.41. The company has a market cap of $11.128 billion and a P/E ratio of 19.85.
In other NetApp news, Chairman Daniel Warmenhoven unloaded 41,763 shares of NetApp stock on the open market in a transaction dated Thursday, May 1st. The stock was sold at an average price of $35.56, for a total value of $1,485,092.28. Following the sale, the chairman now directly owns 65,059 shares of the company’s stock, valued at approximately $2,313,498. The transaction was disclosed in a filing with the SEC, 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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