NetApp Price Target Increased to $43.00 by Analysts at Evercore Partners (NTAP)
Equities research analysts at Evercore Partners hoisted their target price on shares of NetApp (NASDAQ:NTAP) from $4.00 to $43.00 in a research note issued to investors on Friday. Evercore Partners’ price target indicates a potential upside of 10.23% from the stock’s previous close.
NetApp (NASDAQ:NTAP) traded up 1.46% during mid-day trading on Friday, hitting $39.00. 2,995,194 shares of the company’s stock traded hands. 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 $37.31 and a 200-day moving average of $37.74. The company has a market cap of $12.616 billion and a P/E ratio of 21.01.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.84 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.69 earnings per share. NetApp’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that NetApp will post $2.96 earnings per share for the current fiscal year.
In other NetApp news, Director Daniel J. Warmenhoven sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $38.44, for a total value of $768,800.00. The sale was disclosed in a filing with the SEC, which is available at this link.
NTAP has been the subject of a number of other recent research reports. Analysts at Pacific Crest raised their price target on shares of NetApp from $41.00 to $46.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.11.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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