NetApp, Inc. (NASDAQ:NTAP)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a research note issued on Friday. They currently have a $56.00 price target on the data storage provider’s stock. Maxim Group’s price objective would indicate a potential upside of 27.24% from the company’s previous close.

Other research analysts have also issued reports about the stock. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $50.00 price target (up from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $37.00 price target on shares of NetApp in a report on Wednesday, August 16th. Barclays PLC lifted their price target on shares of NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. Lake Street Capital lifted their price target on shares of NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price target (up from $60.00) on shares of NetApp in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have assigned a buy rating to the stock. NetApp has an average rating of “Hold” and an average target price of $45.12.

NetApp (NASDAQ:NTAP) traded down 0.92% during midday trading on Friday, hitting $44.01. The stock had a trading volume of 1,870,120 shares. The stock has a 50 day moving average of $43.06 and a 200 day moving average of $41.07. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 21.25 and a beta of 1.26. NetApp has a 12 month low of $30.36 and a 12 month high of $45.24.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that NetApp will post $3.12 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “NetApp, Inc. (NTAP) Stock Rating Reaffirmed by Maxim Group” was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/28/netapp-inc-ntap-stock-rating-reaffirmed-by-maxim-group.html.

In related news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.89, for a total transaction of $86,726.64. Following the transaction, the executive vice president now directly owns 15,836 shares of the company’s stock, valued at $695,042.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $43.67, for a total transaction of $174,680.00. Following the transaction, the chief executive officer now directly owns 27,598 shares in the company, valued at $1,205,204.66. The disclosure for this sale can be found here. Insiders have sold 48,498 shares of company stock worth $2,083,785 over the last ninety days. 0.47% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exane Derivatives grew its position in NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. Krilogy Financial LLC purchased a new position in NetApp during the second quarter valued at approximately $122,000. Raymond James Trust N.A. purchased a new position in NetApp during the third quarter valued at approximately $208,000. Cambridge Investment Research Advisors Inc. purchased a new position in NetApp during the first quarter valued at approximately $209,000. Finally, Eagle Global Advisors LLC purchased a new position in NetApp during the second quarter valued at approximately $210,000. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Analyst Recommendations for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.