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BMO Capital Markets raised their price objective on shares of NetApp (NASDAQ:NTAP) from $38.00 to $42.00 in a research note issued on Thursday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 6.87% from the company’s current price.

In other NetApp news, Director Daniel J. Warmenhoven sold 20,000 shares of the stock in a transaction that occurred on 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 can be accessed through this link.

NetApp (NASDAQ:NTAP) traded up 3.79% during mid-day trading on Thursday, hitting $40.79. The stock had a trading volume of 5,648,336 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 $37.6 and a 200-day moving average of $37.56. The company has a market cap of $13.196 billion and a price-to-earnings ratio of 21.48. NetApp also was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 7,973,104 shares, a growth of 36.1% from the July 15th total of 5,858,719 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 3,428,833 shares, the days-to-cover ratio is currently 2.3 days.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, analysts predict that NetApp will post $2.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders of record on Friday, October 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 1.68%.

NTAP has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of NetApp in a research note on Thursday. They now have a $40.00 price target on the stock, up previously from $35.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of NetApp in a research note on Thursday. They now have a $42.00 price target on the stock, up previously from $40.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of NetApp in a research note on Thursday. They now have a $41.00 price target on the stock, up previously from $39.00. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.15.

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

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