NetApp Stock Rating Lowered by Raymond James (NTAP)
NetApp (NASDAQ:NTAP) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, May 7th. Separately, 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. Finally, analysts at Deutsche Bank initiated coverage on shares of NetApp in a research note on Thursday, April 10th. They set a “hold” rating and a $36.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.96.
Shares of NetApp (NASDAQ:NTAP) opened at 33.715 on Monday. NetApp has a 1-year low of $33.34 and a 1-year high of $45.96. The stock has a 50-day moving average of $35.76 and a 200-day moving average of $39.27. The company has a market cap of $11.169 billion and a P/E ratio of 20.15.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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