NetApp Price Target Increased to $46.00 by Analysts at Pacific Crest (NTAP)
Stock analysts at Pacific Crest lifted their price target on shares of NetApp (NASDAQ:NTAP) from $41.00 to $46.00 in a report issued on Thursday. Pacific Crest’s price objective suggests a potential upside of 18.56% from the company’s current price.
In other NetApp news, Director Daniel J. Warmenhoven sold 20,000 shares of NetApp stock on the open market in a transaction dated Friday, August 1st. The stock was sold at an average price of $38.44, for a total value of $768,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at DA Davidson initiated coverage on shares of NetApp in a research note on Wednesday, July 9th. They set a “buy” rating and a $45.00 price target on the stock. Separately, analysts at ISI Group reiterated a “hold” rating on shares of NetApp in a research note on Tuesday, July 1st. They now have a $34.00 price target on the stock. Finally, analysts at Standpoint Research initiated coverage on shares of NetApp in a research note on Monday, June 30th. They set a “buy” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.12.
NetApp (NASDAQ:NTAP) opened at 38.80 on Thursday. 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 $37. and a 200-day moving average of $37.72. The company has a market cap of $12.552 billion and a P/E ratio of 21.13.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, May 21st. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts predict that NetApp will post $2.96 earnings per share for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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