NetApp, Inc. (NTAP) Receives $50.70 Consensus PT from Analysts
Shares of NetApp, Inc. (NASDAQ:NTAP) have been given an average rating of “Hold” by the thirty-five ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.70.
A number of analysts have commented on NTAP shares. Maxim Group boosted their target price on NetApp from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. Piper Jaffray Companies set a $52.00 target price on NetApp and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Barclays upgraded NetApp from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $52.00 in a research report on Thursday, November 9th. Finally, DA Davidson reiterated a “buy” rating and set a $51.00 target price on shares of NetApp in a research report on Monday, October 2nd.
NetApp (NASDAQ:NTAP) traded down $0.41 on Monday, reaching $57.37. The company’s stock had a trading volume of 2,413,331 shares, compared to its average volume of 2,991,432. 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 $15,420.00, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.29. NetApp has a one year low of $35.08 and a one year high of $58.99.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. equities analysts anticipate that NetApp will post 2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. NetApp’s dividend payout ratio (DPR) is 34.33%.
In related news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joel D. Reich sold 15,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $56.99, for a total value of $854,850.00. Following the completion of the transaction, the vice president now owns 441 shares of the company’s stock, valued at $25,132.59. The disclosure for this sale can be found here. Insiders sold 202,036 shares of company stock valued at $10,171,008 over the last quarter. Insiders own 0.47% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in NetApp by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock valued at $1,089,939,000 after purchasing an additional 481,365 shares during the last quarter. BlackRock Inc. increased its stake in NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after purchasing an additional 1,517,967 shares during the last quarter. Boston Partners acquired a new position in NetApp in the third quarter valued at $315,629,000. Bank of New York Mellon Corp increased its stake in NetApp by 25.2% in the third quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock valued at $177,748,000 after purchasing an additional 817,147 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after purchasing an additional 2,960,542 shares during the last quarter. Hedge funds and other institutional investors own 94.97% 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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