Lake Street Capital restated their buy rating on shares of NetApp (NASDAQ:NTAP) in a research note published on Thursday, November 16th, MarketBeat Ratings reports. The firm currently has a $54.00 target price on the data storage provider’s stock, up from their prior target price of $49.00.
Other research analysts have also recently issued research reports about the stock. Maxim Group increased their target price on shares of NetApp from $56.00 to $61.00 and gave the stock a buy rating in a report on Thursday, November 16th. Morgan Stanley reissued an underweight rating on shares of NetApp in a report on Saturday, September 23rd. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the stock a buy rating in a report on Tuesday, November 14th. Barclays raised shares of NetApp from an underweight rating to an overweight rating and increased their target price for the stock from $38.00 to $52.00 in a report on Thursday, November 9th. Finally, DA Davidson reissued a buy rating and issued a $51.00 target price on shares of NetApp in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. NetApp presently has an average rating of Hold and an average price target of $49.04.
Shares of NetApp (NTAP) opened at $55.93 on Thursday. The stock has a market cap of $14,920.00, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. NetApp has a one year low of $34.72 and a one year high of $58.11.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm 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 for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. equities analysts predict that NetApp will post 2.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is 34.33%.
In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $43.89, for a total value of $86,726.64. Following the completion of the sale, the executive vice president now owns 15,836 shares of the company’s stock, valued at approximately $695,042.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,060 shares of company stock valued at $9,205,680. Insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Exane Derivatives boosted its holdings in NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares during the last quarter. First Personal Financial Services boosted its holdings in NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares during the last quarter. Krilogy Financial LLC purchased a new position in NetApp during the 2nd quarter worth $122,000. Quantbot Technologies LP purchased a new position in NetApp during the 3rd quarter worth $131,000. Finally, FTB Advisors Inc. raised its stake in shares of NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after purchasing an additional 1,519 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.
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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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