NetApp Receives Consensus Recommendation of “Hold” from Analysts (NASDAQ:NTAP)
Shares of NetApp (NASDAQ:NTAP) have earned a consensus recommendation of “Hold” from the thirty-seven ratings firms that are covering the stock, Analyst Ratings.Net reports. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $41.19.
NetApp (NASDAQ:NTAP) opened at 41.99 on Monday. 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 $38.96 and a 200-day moving average of $37.49. The company has a market cap of $13.584 billion and a P/E ratio of 22.00.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 13th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that NetApp will post $3.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 22nd. Investors of record on Friday, October 10th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Wednesday, October 8th.
In other NetApp news, Director Daniel J. Warmenhoven sold 7,600 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $41.56, for a total value of $315,856.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on NTAP. Analysts at Sterne Agee raised their price target on shares of NetApp from $34.00 to $35.00 in a research note on Thursday, August 14th. They now have a “neutral” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of NetApp from $45.00 to $47.00 in a research note on Thursday, August 14th. They now have a “buy” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Thursday, August 14th. They now have a “neutral” rating on the stock.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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