NetApp (NASDAQ:NTAP) received a $79.00 price target from stock analysts at DA Davidson in a report released on Friday. The brokerage presently has a “buy” rating on the data storage provider’s stock. DA Davidson’s price target points to a potential upside of 25.18% from the stock’s current price. DA Davidson also issued estimates for NetApp’s Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $0.88 EPS, FY2019 earnings at $3.05 EPS, Q1 2020 earnings at $0.75 EPS, Q2 2020 earnings at $0.79 EPS, Q3 2020 earnings at $0.83 EPS and FY2020 earnings at $3.29 EPS.
A number of other analysts have also weighed in on the company. Pivotal Research raised NetApp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $72.00 in a research report on Wednesday. Cross Research downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. UBS boosted their target price on shares of NetApp from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Piper Jaffray reiterated an “overweight” rating and set a $72.00 target price on shares of NetApp in a research note on Friday, March 23rd. Finally, Zacks Investment Research downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. NetApp presently has a consensus rating of “Buy” and an average price target of $57.96.
NetApp stock opened at $63.11 on Friday. NetApp has a twelve month low of $37.43 and a twelve month high of $65.58. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91. The firm has a market cap of $16,908.62, a PE ratio of 22.62, a P/E/G ratio of 2.01 and a beta of 1.27.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. analysts predict that NetApp will post 2.92 EPS for the current year.
In other news, CEO George Kurian sold 3,826 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the sale, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joel D. Reich sold 11,641 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $60.02, for a total transaction of $698,692.82. The disclosure for this sale can be found here. Insiders sold 29,507 shares of company stock valued at $1,785,398 in the last 90 days. 0.47% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of NetApp by 45.3% in the fourth quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after buying an additional 801 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of NetApp by 227.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after buying an additional 2,282 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of NetApp in the fourth quarter valued at about $210,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of NetApp by 559.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,025 shares of the data storage provider’s stock valued at $223,000 after buying an additional 3,415 shares during the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in shares of NetApp in the fourth quarter valued at about $224,000. 94.99% of the stock is owned by institutional investors and hedge funds.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.
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