NetApp (NASDAQ:NTAP)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a research report issued on Monday. They currently have a $60.00 price target on the data storage provider’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 2.42% from the company’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus reiterated a “hold” rating and set a $37.00 target price on shares of NetApp in a research report on Wednesday, August 16th. Susquehanna Bancshares reiterated a “positive” rating and set a $50.00 target price (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Barclays increased their target price on NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Drexel Hamilton reiterated a “buy” rating and set a $62.00 target price (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. Finally, Citigroup increased their target price on NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.39.

Shares of NetApp (NASDAQ NTAP) traded up $0.32 during trading hours on Monday, hitting $58.58. The stock had a trading volume of 2,874,037 shares, compared to its average volume of 2,995,380. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. NetApp has a twelve month low of $35.08 and a twelve month high of $58.99. The stock has a market capitalization of $15,540.00, a P/E ratio of 21.90, a P/E/G ratio of 1.89 and a beta of 1.29.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. sell-side analysts forecast that NetApp will post 2.72 EPS for the current year.

In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the completion of the sale, the executive vice president now directly owns 17,812 shares in the company, valued at $748,282.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The disclosure for this sale can be found here. Insiders have sold 202,036 shares of company stock valued at $10,171,008 over the last 90 days. 0.47% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Exane Derivatives grew its stake in shares of NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after buying an additional 2,394 shares in the last quarter. First Personal Financial Services grew its stake in shares of NetApp by 27,540.0% in the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after buying an additional 2,754 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of NetApp in the third quarter valued at about $131,000. Krilogy Financial LLC acquired a new stake in shares of NetApp in the second quarter valued at about $122,000. Finally, FTB Advisors Inc. grew its stake in shares of NetApp by 50.2% in the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after buying an additional 1,519 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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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)

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