NetApp (NTAP) Receiving Somewhat Favorable News Coverage, Accern Reports
News articles about NetApp (NASDAQ:NTAP) have been trending somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. NetApp earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned news articles about the data storage provider an impact score of 46.0153795561478 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- Royal Bank Of Canada Reiterates Hold Rating for NetApp (NTAP) (americanbankingnews.com)
- NetApp, Inc. (NTAP) Given Average Recommendation of “Hold” by Analysts (americanbankingnews.com)
- NetApp, Inc. (NTAP) VP Joel D. Reich Sells 15,000 Shares (americanbankingnews.com)
- NetApp Honors Partners at U.S. Public Sector Partner Summit Nasdaq:NTAP (menafn.com)
- Do What Institutional Investors Does: NetApp, Inc. (NTAP), Performance Food Group Company (PFGC) – Market Movers (financialqz.com)
A number of research firms recently weighed in on NTAP. Stifel Nicolaus restated a “hold” rating and set a $37.00 price target on shares of NetApp in a research report on Wednesday, August 16th. Susquehanna Bancshares restated a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Barclays boosted their price target on shares of NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Drexel Hamilton restated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $60.00 target price on shares of NetApp in a research note on Monday. Two 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 currently has a consensus rating of “Hold” and an average target price of $49.39.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion for 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 business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. equities research analysts forecast that NetApp will post 2.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is 34.33%.
In related news, SVP Matthew K. Fawcett sold 29,845 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were 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 of the company’s stock, valued at approximately $1,489,429.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the sale, the director now directly owns 24,132 shares in the company, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders sold a total of 202,036 shares of company stock worth $10,171,008 over the last three months. Insiders own 0.47% 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.
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