NetApp Price Target Cut to $46.00 by Analysts at Cantor Fitzgerald (NTAP)
Equities researchers at Cantor Fitzgerald decreased their price target on shares of NetApp (NASDAQ:NTAP) from $53.50 to $46.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 34.15% from the company’s current price.
NetApp (NASDAQ:NTAP) opened at 34.29 on Tuesday. NetApp has a 52-week low of $33.34 and a 52-week high of $45.96. The stock has a 50-day moving average of $35.71 and a 200-day moving average of $39.23. The company has a market cap of $11.359 billion and a price-to-earnings ratio of 19.58.
A number of other firms have also recently commented on NTAP. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of NetApp in a research note on Monday. They now have a $39.00 price target on the stock, down previously from $45.00. Separately, analysts at ING cut their price target on shares of NetApp from $48.00 to $39.00 in a research note on Monday. Finally, analysts at Brean Capital cut their price target on shares of NetApp from $48.00 to $39.00 in a research note on Monday. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $40.82.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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