Other analysts have also issued research reports about the company. BidaskClub upgraded NetApp from a hold rating to a buy rating in a report on Wednesday, July 19th. Longbow Research upgraded NetApp from a neutral rating to a buy rating and set a $50.00 price objective for the company in a report on Tuesday, August 15th. Piper Jaffray Companies set a $50.00 price objective on NetApp and gave the company a buy rating in a report on Monday, August 14th. Maxim Group raised NetApp from a hold rating to a buy rating and boosted their target price for the stock from $46.00 to $56.00 in a research report on Monday, August 14th. Finally, Lake Street Capital boosted their target price on NetApp from $43.00 to $49.00 and gave the stock a buy rating in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the stock. NetApp currently has an average rating of Hold and a consensus target price of $49.04.
Shares of NetApp (NASDAQ:NTAP) traded down $0.10 during mid-day trading on Thursday, reaching $56.41. The company’s stock had a trading volume of 4,081,015 shares, compared to its average volume of 2,989,648. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp has a one year low of $34.72 and a one year high of $57.75. The firm has a market cap of $15,220.00, a price-to-earnings ratio of 21.35, a PEG ratio of 1.84 and a beta of 1.16.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. analysts predict that NetApp will post 2.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s payout ratio is currently 34.33%.
In other NetApp news, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total value of $83,011.76. Following the completion of the transaction, the executive vice president now directly owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,060 shares of company stock worth $9,205,680. Insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NTAP. Exane Derivatives boosted its stake in shares of 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 in the last quarter. First Personal Financial Services boosted its stake in shares of 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 in the last quarter. Krilogy Financial LLC bought a new stake in shares of NetApp during the 2nd quarter worth about $122,000. Quantbot Technologies LP bought a new stake in shares of NetApp during the 3rd quarter worth about $131,000. Finally, FTB Advisors Inc. boosted 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 acquiring an additional 1,519 shares in the last quarter. Institutional investors own 93.93% 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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