Shares of NetApp, Inc. (NTAP) traded up $1.07 on Wednesday, reaching $57.21. The company’s stock had a trading volume of 3,169,522 shares, compared to its average volume of 2,994,390. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. The stock has a market capitalization of $14,921.67, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. NetApp, Inc. has a fifty-two week low of $34.72 and a fifty-two week high of $58.11.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. equities research analysts forecast that NetApp, Inc. will post 2.72 EPS for the current year.
The business also recently declared 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 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is 34.33%.
Several large investors have recently added to or reduced their stakes in NTAP. Exane Derivatives grew its position in shares of NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services grew its position in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after purchasing an additional 2,754 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of NetApp during the second quarter worth about $122,000. Quantbot Technologies LP purchased a new stake in shares of NetApp during the third quarter worth about $131,000. Finally, FTB Advisors Inc. grew its position in shares of NetApp by 50.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.
NTAP has been the topic of several analyst reports. Longbow Research raised NetApp from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, August 15th. Piper Jaffray Companies set a $50.00 target price on NetApp and gave the stock a “buy” rating in a report on Monday, August 14th. Maxim Group raised NetApp from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $56.00 in a report on Monday, August 14th. Lake Street Capital upped their price target on NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price target (up from $60.00) on shares of NetApp in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.04.
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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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