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NetApp (NASDAQ:NTAP) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a research report issued on Monday.

The analysts wrote, “NetApp (NTAP) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, expanding profit margins and increase in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow.”

A number of other analysts have also recently weighed in on NTAP. Analysts at Robert W. Baird cut their price target on shares of NetApp from $42.00 to $40.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of NetApp in a research note on Thursday. They now have a $39.00 price target on the stock, down previously from $43.00. Finally, analysts at Longbow Research reiterated an “outperform” rating on shares of NetApp in a research note on Thursday. They now have a $40.00 price target on the stock, down previously from $47.00. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.36.

NetApp (NASDAQ:NTAP) traded down 1.11% on Monday, hitting $35.76. The stock had a trading volume of 8,486,594 shares. 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 $35.51 and a 200-day moving average of $39.11. The company has a market cap of $11.808 billion and a price-to-earnings ratio of 19.76.

NetApp (NASDAQ:NTAP) last released its earnings data on Wednesday, May 21st. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts expect that NetApp will post $2.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 22nd. Investors of record on Thursday, July 10th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, July 8th. This is an increase from NetApp’s previous quarterly dividend of $0.15.

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

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