NetApp Receives “Buy” Rating from TheStreet (NTAP)
NetApp (NASDAQ: NTAP)‘s stock had its “buy” rating reaffirmed by research analysts at TheStreet in a report released on Thursday.
The analysts wrote, “NetApp (NTAP) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company’s strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
NetApp (NASDAQ: NTAP) traded down 1.23% on Thursday, hitting $33.73. NetApp has a 1-year low of $26.26 and a 1-year high of $46.80. The stock’s 50-day moving average is currently $34.92. The company has a market cap of $12.157 billion and a price-to-earnings ratio of 24.64.
NetApp (NASDAQ: NTAP) last released its earnings data on Wednesday, February 13th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.11. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company posted $0.58 earnings per share. NetApp’s revenue was up 4.1% compared to the same quarter last year. NetApp has set its Q4 guidance at $0.65-0.70 EPS. Analysts expect that NetApp will post $2.28 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Longbow Research initiated coverage on shares of NetApp in a research note to investors on Monday, March 11th. They set a “neutral” rating on the stock. Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of NetApp in a research note to investors on Friday, March 8th. They now have a $40.00 price target on the stock. Finally, analysts at Zacks upgraded shares of NetApp from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, February 18th. They now have a $39.10 price target on the stock.
One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.56.
NetApp, Inc. (NASDAQ: NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
To view TheStreet’s full report, visit www.thestreetratings.com
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