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Brean Capital upped their price target on shares of NetApp (NASDAQ:NTAP) from $42.00 to $45.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Brean Capital’s price target suggests a potential upside of 14.53% from the company’s current price.

Shares of NetApp (NASDAQ:NTAP) opened at 39.30 on Thursday. NetApp has a 1-year low of $33.34 and a 1-year high of $45.96. The stock’s 50-day moving average is $37.6 and its 200-day moving average is $37.56. The company has a market cap of $12.714 billion and a price-to-earnings ratio of 21.47. NetApp also was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 7,973,104 shares, an increase of 36.1% from the July 15th total of 5,858,719 shares. Based on an average daily trading volume, of 3,428,833 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.5% of the company’s stock are sold short.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results 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%.

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.

Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC upgraded shares of NetApp to a “buy” rating in a research note on Thursday. Separately, analysts at RBC Capital raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Friday, August 8th. Finally, analysts at Evercore Partners raised their price target on shares of NetApp from $4.00 to $43.00 in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.21.

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

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