Analysts’ Weekly Ratings Changes for NetApp (NTAP)

Several analysts have recently updated their ratings and price targets for NetApp (NASDAQ: NTAP):

  • 2/7/2018 – NetApp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “NetApp is a provider of enterprise storage and data management software and hardware products and services. The company’s expertise in the flash array market is increasing its prominence in the storage area network (SAN) and converged infrastructure markets. Shares of the company have outperformed the industry in the past one year. The company’s newly launched hyper-converged infrastructure (HCI) is also expected to be a positive for the top-line growth in the long run. We believe NetApp is well positioned to enjoy steady growth driven by its diversified portfolio and strong distribution channels. These will drive demand for the company's products going forward. However, the company has been experiencing declining OEM revenues since two straight fiscals. Moreover, intensifying competition from bellwethers such as HP Inc., Dell, IBM and Oracle is a major headwind.”
  • 2/7/2018 – NetApp is now covered by analysts at Goldman Sachs Group Inc. They set a “neutral” rating and a $64.00 price target on the stock.
  • 2/6/2018 – NetApp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “NetApp shares have outperformed the industry in the past one year. The company’s expertise in the flash array market is increasing its prominence in the storage area network (SAN) and converged infrastructure markets. The company’s newly launched hyper-converged infrastructure (HCI) is also expected to be a positive for the top-line growth in the long run. We believe NetApp is well positioned to enjoy steady growth driven by its diversified portfolio and strong distribution channels. These will drive demand for the company's products going forward. However, the company has been experiencing declining OEM revenues since two straight fiscals. Moreover, intensifying competition from bellwethers such as HP Inc., Dell, IBM and Oracle is a major headwind.”
  • 2/2/2018 – NetApp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 2/1/2018 – NetApp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “NetApp shares have outperformed the industry in the past one year. The company’s expertise in the flash array market is increasing its prominence in the storage area network (SAN) and converged infrastructure markets. The company’s newly launched hyper-converged infrastructure (HCI) is also expected to be a positive for the top-line growth in the long run. We believe NetApp is well positioned to enjoy steady growth driven by its diversified portfolio and strong distribution channels. These will drive demand for the company's products going forward. However, the company has been experiencing declining OEM revenues since two straight fiscals. Moreover, intensifying competition from bellwethers such as HP Inc., Dell, IBM and Oracle is a major headwind.”
  • 1/26/2018 – NetApp had its price target raised by analysts at UBS Group AG from $62.00 to $71.00. They now have a “buy” rating on the stock.
  • 1/23/2018 – NetApp was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $64.00 price target on the stock, up previously from $41.00.
  • 1/23/2018 – NetApp was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $64.00 price target on the stock, up previously from $56.00.

NetApp Inc. (NASDAQ:NTAP) opened at $56.17 on Monday. The company has a market capitalization of $14,985.70, a P/E ratio of 24.11, a PEG ratio of 1.79 and a beta of 1.32. NetApp Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $64.06. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. sell-side analysts predict that NetApp Inc. will post 2.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.

In other news, VP Joel D. Reich sold 3,371 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $53.17, for a total transaction of $179,236.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 3,826 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the transaction, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The disclosure for this sale can be found here. Insiders have sold 176,629 shares of company stock valued at $9,568,956 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.

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