NetApp PT Raised to $41.00 (NTAP)
Equities researchers at RBC Capital lifted their price objective on shares of NetApp (NASDAQ:NTAP) from $38.00 to $41.00 in a research report issued on Friday. RBC Capital’s price target indicates a potential upside of 5.10% from the company’s current price.
A number of other analysts have also recently weighed in on NTAP. Analysts at Evercore Partners raised their price target on shares of NetApp from $4.00 to $43.00 in a research note on Friday. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.11.
In other NetApp news, Director Daniel J. Warmenhoven unloaded 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 transaction of $768,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
NetApp (NASDAQ:NTAP) traded up 1.46% during mid-day trading on Friday, hitting $39.00. The stock had a trading volume of 2,995,194 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 $37.31 and a 200-day moving average of $37.74. The company has a market cap of $12.616 billion and a price-to-earnings ratio of 21.01.
NetApp (NASDAQ:NTAP) last announced its earnings results 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. Analysts expect that NetApp will post $2.96 EPS 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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