NetApp, Inc. (NTAP) PT Raised to $60.00
NetApp, Inc. (NASDAQ:NTAP) had its price target raised by equities researchers at Argus from $46.00 to $60.00 in a report released on Friday. The brokerage currently has a “buy” rating on the data storage provider’s stock. Argus’ target price suggests a potential upside of 13.31% from the stock’s current price.
Several other analysts also recently issued reports on the stock. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $43.00 price objective on shares of NetApp in a report on Wednesday. UBS AG reaffirmed a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of NetApp in a report on Thursday. Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a report on Thursday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of NetApp in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.68.
Shares of NetApp (NTAP) opened at $52.95 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.44. The company has a market cap of $14,283.69, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. NetApp has a 1 year low of $34.72 and a 1 year high of $54.72.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. sell-side analysts predict that NetApp will post 2.53 EPS for the current fiscal year.
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In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total transaction of $83,011.76. Following the sale, the executive vice president now owns 17,812 shares of the company’s stock, valued at approximately $748,282.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew K. Fawcett sold 29,845 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the sale, the senior vice president now directly owns 31,962 shares in the company, valued at approximately $1,489,429.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,343 shares of company stock worth $3,302,273. Insiders own 0.47% of the company’s stock.
A number of large investors have recently modified their holdings of NTAP. Exane Derivatives boosted its stake in shares of NetApp by 59,850.0% in the 3rd 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 during the last quarter. First Personal Financial Services boosted its stake in shares of NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares during the last quarter. Krilogy Financial LLC bought a new position in shares of NetApp in the 2nd quarter valued at about $122,000. Quantbot Technologies LP bought a new position in shares of NetApp in the 3rd quarter valued at about $131,000. Finally, FTB Advisors Inc. boosted its stake in shares of NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares during the last quarter. 93.91% 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.
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